TORONTO - Timbercreek Financial (TSX: TF) has declared a monthly dividend of $0.0575 per common share, payable on November 15, 2024, to shareholders of record as of October 31, 2024. The company also highlighted its Dividend Reinvestment Plan (DRIP), which allows shareholders to reinvest their cash dividends in additional common shares. The DRIP offers the purchase of shares at a potential discount, with no commissions, service charges, or brokerage fees.
Under the DRIP, shares may be purchased on the open market or issued from the company's treasury. The price of shares issued from the treasury will be set at 98 percent of the average market price during a specific trading period preceding the dividend payment date. Shares acquired through the plan will automatically be enrolled in the DRIP.
Timbercreek Financial emphasizes that shareholders who hold their shares through a broker or other nominee must arrange to participate in the DRIP through their respective nominee holder. Details of the DRIP are available on the company's website.
The company, known for providing structured financing solutions to commercial real estate investors, aims to offer service-oriented and flexible terms that are often not available from traditional Canadian financial institutions. Timbercreek Financial focuses on delivering risk-adjusted returns for investors through meticulous underwriting, active management, and robust governance.
This announcement is based on a press release statement from Timbercreek Financial.
InvestingPro Insights
Timbercreek Financial's recent dividend declaration aligns with its attractive dividend yield of 8.5%, as reported by InvestingPro. This high yield underscores the company's commitment to returning value to shareholders, which is further emphasized by their Dividend Reinvestment Plan.
The company's financial health appears robust, with InvestingPro data showing a price-to-book ratio of 0.96, suggesting the stock may be undervalued relative to its book value. This could be particularly appealing to value investors considering the DRIP opportunity.
Moreover, Timbercreek's adjusted P/E ratio of 10.93 for the last twelve months as of Q2 2024 indicates that the company's earnings are strong relative to its share price. This metric, combined with the company's focus on risk-adjusted returns mentioned in the article, paints a picture of a potentially undervalued stock with solid fundamentals.
An InvestingPro Tip highlights that Timbercreek Financial's dividend payments have been stable over the past year, reinforcing the reliability of its dividend program. Another tip notes that analysts have recently revised their earnings expectations upwards, which could signal positive sentiment about the company's future performance.
For investors seeking a deeper understanding of Timbercreek Financial's prospects, InvestingPro offers 14 additional tips that could provide valuable insights into the company's financial position and market outlook.
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