Atrium Mortgage Investment Corporation Announces Solid Second Quarter Earnings and Declares Dividends for the Fourth Quarter of 2026
Rhea-AI Summary
Atrium Mortgage Investment Corporation (TSX: AI, OTC: AMIVF) reported Q2 2026 net income of $11.7 million, down from $13.1 million in Q2 2025, on revenue of $18.7 million, an 11.8% decrease. Basic and diluted EPS were $0.24 versus $0.28 and $0.27 a year earlier. For the first half of 2026, revenue was $38.5 million and net income $23.7 million, both below the prior year, while EPS was $0.49 versus $0.53.
The mortgage portfolio stood at $860.1 million as of June 30, 2026, with mortgages receivable of $834.4 million and an allowance for credit losses of $30.1 million (3.5% of the gross portfolio). Atrium highlighted a conservative risk profile, with 96.9% in first mortgages and a weighted average loan-to-value of 62.5%. Borrowings on the $380 million credit facility declined to $224.1 million, lowering financing costs.
Atrium renewed its normal course issuer bid, allowing repurchase of up to 4,574,662 common shares from June 24, 2026 to June 23, 2027. The board declared fourth-quarter 2026 monthly dividends of $0.0775 per common share for October, November and December 2026, payable in November and December 2026 and January 2027, respectively.
Positive
- Q2 2026 net income $11.7 million and H1 2026 $23.7 million
- High portfolio quality 96.9% in first mortgages, 62.5% weighted average LTV
- Lower leverage credit facility borrowings reduced to $224.1 million from $283.0 million
- Reduced funding cost 4.67% average credit facility rate in Q2 2026, down from 5.10%
- NCIB approved buyback of up to 4,574,662 common shares through June 23, 2027
- Fourth-quarter 2026 dividends monthly $0.0775 per share declared
Negative
- Revenue decline Q2 2026 revenue $18.7 million, down 11.8% year-over-year
- Net income decline Q2 2026 down 10.5% versus prior-year quarter
- EPS lower Q2 2026 EPS $0.24 vs. $0.28 (basic) in Q2 2025
- Mortgage portfolio contraction to $860.1 million from $896.2 million at March 31, 2026
- Mortgages receivable fell to $834.4 million from $892.5 million at December 31, 2025
- Credit loss allowance $30.1 million, equal to 3.5% of gross mortgage portfolio
AI-generated analysis. How Rhea-AI works. Not financial advice.
Toronto, Ontario--(Newsfile Corp. - August 5, 2026) - Atrium Mortgage Investment Corporation (TSX: AI) (TSX: AI.DB.F) (TSX: AI.DB.G) ("Atrium") today released its financial results for the three and six months ended June 30, 2026.
"Atrium delivered solid results for the second quarter and for the first six months of 2026 while maintaining its disciplined approach to portfolio management. Although the lending environment showed early signs of improvement during the second quarter across both the commercial and residential real estate markets, activity levels remain well below historical averages. Given these conditions, Atrium earned basic earnings per share of
Our mortgage portfolio declined to
Q2 2026 Highlights
Quarterly net income of
$11.7 million , compared to$13.1 million in the prior yearQuarterly basic and diluted earnings per share of
$0.24 Mortgage portfolio of
$860.1 million Well-secured mortgage portfolio
96.9% of the portfolio in first mortgages90.5% of the portfolio is less than75% loan-to-valueWeighted average loan-to-value is
62.5% 1
Results of operations
Atrium reported assets of
For the six months ended June 30, 2026, revenues were
For the three months ended June 30, 2026, basic and diluted earnings per common share were
Mortgages receivable as at June 30, 2026 were
Borrowings under our
SELECTED FINANCIAL HIGHLIGHTS
Consolidated Statements of Income and Comprehensive Income
(Unaudited, 000s, except per share amounts)
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Revenue | $ | 18,686 | $ | 21,185 | $ | 38,508 | $ | 43,148 | |||||||
| Mortgage servicing and management fees | (2,046 | ) | (2,190 | ) | (4,204 | ) | (4,366 | ) | |||||||
| Other expenses | (752 | ) | (794 | ) | (1,258 | ) | (1,145 | ) | |||||||
| Provision for credit losses | (137 | ) | 6 | (788 | ) | (2,155 | ) | ||||||||
| Income before financing costs | 15,751 | 18,207 | 32,258 | 35,482 | |||||||||||
| Financing costs | (4,019 | ) | (5,094 | ) | (8,511 | ) | (10,468 | ) | |||||||
| Net income and comprehensive income | $ | 11,732 | $ | 13,113 | $ | 23,747 | $ | 25,014 | |||||||
| Basic earnings per share | $ | 0.24 | $ | 0.28 | $ | 0.49 | $ | 0.53 | |||||||
| Diluted earnings per share | $ | 0.24 | $ | 0.27 | $ | 0.49 | $ | 0.52 | |||||||
| Dividends declared | $ | 11,216 | $ | 11,048 | $ | 22,386 | $ | 22,043 | |||||||
Selected Financial Position Highlights
(000s, except per share amounts)
| June 30, | December 31, | |||||
| 2026 | 2025 | |||||
| Mortgages receivable | $ | 834,428 | $ | 892,456 | ||
| Total assets | $ | 835,612 | $ | 893,633 | ||
| Total liabilities | $ | 304,796 | $ | 368,579 | ||
| Shareholders' equity | $ | 530,816 | $ | 525,054 | ||
| Book value per share | $ | 10.99 | $ | 10.96 | ||
Mortgage portfolio
(carrying amounts in 000s)
| As at June 30, 2026 | As at December 31, 2025 | ||||||||||||||||||||||||||||||||||||||
| Carrying | % of | Carrying | % of | ||||||||||||||||||||||||||||||||||||
| Property Type | Number | amount | Portfolio | Number | amount | Portfolio | |||||||||||||||||||||||||||||||||
| High-rise residential | 15 | $ | 186,241 | 18 | $ | 245,843 | |||||||||||||||||||||||||||||||||
| Mid-rise residential | 11 | 85,635 | 13 | 103,088 | |||||||||||||||||||||||||||||||||||
| Low-rise residential | 14 | 127,426 | 13 | 127,504 | |||||||||||||||||||||||||||||||||||
| House and apartment | 248 | 201,337 | 251 | 176,254 | |||||||||||||||||||||||||||||||||||
| Condominium corporation | 4 | 1,025 | 4 | 1,091 | |||||||||||||||||||||||||||||||||||
| Residential portfolio | 292 | 601,664 | 299 | 653,780 | |||||||||||||||||||||||||||||||||||
| Commercial | 28 | 258,391 | 27 | 263,294 | |||||||||||||||||||||||||||||||||||
| Mortgage portfolio | 320 | $ | 860,055 | 326 | $ | 917,074 | |||||||||||||||||||||||||||||||||
| As at June 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||
| Location of underlying property | Number of mortgages | Carrying amount | % of Portfolio | Weighted average loan-to-value | Weighted average interest rate | ||||||||||||||||||||||||||||||||||||||||
| Greater Toronto Area ("GTA") | 250 | $ | 718,238 | ||||||||||||||||||||||||||||||||||||||||||
| Non-GTA Ontario | 57 | 74,655 | |||||||||||||||||||||||||||||||||||||||||||
| British Columbia | 13 | 67,162 | |||||||||||||||||||||||||||||||||||||||||||
| 320 | $ | 860,055 | |||||||||||||||||||||||||||||||||||||||||||
| As at December 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||
| Location of underlying property | Number of mortgages | Carrying amount | % of Portfolio | Weighted average loan-to-value | Weighted average interest rate | ||||||||||||||||||||||||||||||||||||||||
| GTA | 249 | $ | 793,802 | ||||||||||||||||||||||||||||||||||||||||||
| Non-GTA Ontario | 63 | 67,210 | |||||||||||||||||||||||||||||||||||||||||||
| British Columbia | 14 | 56,062 | |||||||||||||||||||||||||||||||||||||||||||
| 326 | $ | 917,074 | |||||||||||||||||||||||||||||||||||||||||||
For additional information on the financial results, further analysis of the company's mortgage portfolio, and definitions of non-IFRS measures and other financial measures, please refer to Atrium's interim condensed consolidated financial statements and management's discussion and analysis for the three and six months ended June 30, 2026, available on SEDAR+ at www.sedarplus.ca, and on the company's website at www.atriummic.com.
Normal Course Issuer Bid
During the quarter, Atrium received approval from the Toronto Stock Exchange (the "TSX") to renew its normal course issuer bid (the "NCIB"), enabling Atrium to acquire for cancellation up to 4,574,662 common shares during the twelve-month period commencing June 24, 2026, and ending on June 23, 2027.
2026 Fourth Quarter Dividends
Atrium is pleased to announce that the Board of Directors has declared a monthly cash dividend of
| Dividend Month | Record Date | Dividend Payment Date |
| October 2026 | October 30, 2026 | November 10, 2026 |
| November 2026 | November 30, 2026 | December 10, 2026 |
| December 2026 | December 31, 2026 | January 12, 2027 |
Conference call
Interested parties are invited to participate in a conference call with management on Thursday, August 6, 2026 at 9:00 a.m. ET to discuss the results.
To participate or listen to the conference call live, please call 1-833-491-0507 (call topic: Second quarter results). For a replay of the conference call (available until August 18, 2026) please call 1-833-607-0619, passcode 4964319#.
About Atrium
Canada's Premier Non-Bank Lender™
Atrium is a non-bank provider of residential and commercial mortgages that lends in major urban centres in Canada where the stability and liquidity of real estate are high. Atrium's objectives are to provide its shareholders with stable and secure dividends and preserve shareholders' equity by lending within conservative risk parameters. Atrium is a Mortgage Investment Corporation ("MIC") as defined in the Canada Income Tax Act, so is not taxed on income provided that its taxable income is paid to its shareholders in the form of dividends within 90 days after December 31 each year. Such dividends are generally treated by shareholders as interest income, so that each shareholder is in the same position as if the mortgage investments made by the company had been made directly by the shareholder. For further information about Atrium, please refer to regulatory filings available at www.sedarplus.ca or investor information on Atrium's website at www.atriummic.com.
For additional information, please contact
Robert G. Goodall
Chief Executive Officer
Chris Anastasopoulos
Chief Financial Officer
(416) 867-1053
info@atriummic.com
www.atriummic.com
[1] Weighted average loan-to-value ("LTV") is calculated based on the value of the underlying assets determined using third-party appraisals at origination and updated using third-party appraisals when warranted as described in Atrium's Management's Discussion and Analysis for the three and six months ended June 30, 2026.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/308255