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Timbercreek Financial (TF) investor relations material
Timbercreek Financial Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net investment income held steady at CAD 25.4 million in Q3, with distributable income at CAD 14.1 million (CAD 0.17 per share), slightly down from last year due to constrained new investment activity and higher credit loss provisions.
Net income for Q3 was CAD 8.5 million, down from CAD 14.1 million in Q3 last year, reflecting increased expected credit loss reserves.
The net mortgage investment portfolio grew 3.6% year-over-year to CAD 1,054.5 million, despite a sequential decline from Q2 due to a large unexpected repayment.
Over CAD 200 million in funded and committed deals in Q4 to date, supporting optimism for full-year portfolio and revenue growth.
The company renewed and upsized its revolving credit facility to CAD 600 million for two years at improved terms, supporting future growth.
Financial highlights
Net investment income on financial assets at amortized cost was CAD 25.4 million in Q3, consistent with Q2 and Q3 last year.
Distributable income was CAD 14.1 million (CAD 0.17 per share), down from CAD 15 million (CAD 0.18 per share) in Q3 last year.
Net income was CAD 8.5 million; net income before ECL was CAD 14.3 million.
Dividends declared for Q3 totaled CAD 14.3 million (CAD 0.17 per share), with a payout ratio of 101.4% on distributable income.
Gross interest and other income for Q3 was CAD 37 million, up from CAD 34.3 million in Q3 last year.
Outlook and guidance
Q4 investment activity expected to be robust, with a strong transaction pipeline and over CAD 200 million already funded or committed.
Portfolio growth anticipated to reach targeted levels for the full year, with higher revenue expected.
Full-year distributable income payout ratio expected to remain within targeted range.
Existing debt capacity supports portfolio growth to CAD 1.2–1.3 billion; further growth would require additional equity and debt.
Stable monthly dividend yield over 9.5% maintained.
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