Timbercreek Financial (TSE:TF) has released an update.
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Timbercreek Financial reported a robust start to 2024, with a $31.3 million increase in their net mortgage investment portfolio, reaching $977.5 million, and a payout of $19.1 million in dividends after a strong quarter of loan originations. Despite a slight dip in net income compared to the previous year, the company maintains a healthy payout ratio and is optimistic about future growth due to a stable interest rate environment and ongoing management of higher-risk loans. The company has also successfully renewed its credit facility, securing its position for the next two years.
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