Atrium Mortgage Investment Corporation Reports Strong 2025 Annual Results, Declares $0.10 Special Dividend for 2025 and Announces Dividends for the Second Quarter of 2026

Rhea-AI Summary

Atrium Mortgage Investment Corporation (TSX: AMIVF) reported 2025 net income of $49.1M and basic/diluted EPS of $1.03. Mortgages receivable rose to $892.5M, mortgage portfolio carrying amount $917.1M, average LTV 61.4% and weighted average interest rate 8.98%. The board declared a $0.10 special dividend for 2025 and monthly dividends of $0.0775 for Q2 2026.

Assets ended at $893.6M, allowance for losses $30.5M (3.32% of gross mortgage portfolio), and the credit facility was expanded to $380M.

Positive

• Net income increased to $49.1M (+2.5%)
• Earnings per share sustained at $1.03
• Mortgage portfolio grew 3.4% to $917.1M
• Credit facility expanded by $40M to $380M
• Allowance for mortgage losses funded at $30.5M (3.32%)

Negative

• Revenue declined 12.5% to $85.1M
• Weighted average interest rate fell from 9.98% to 8.98%
• Book value per share unchanged at $10.96

Toronto, Ontario--(Newsfile Corp. - February 26, 2026) - Atrium Mortgage Investment Corporation (TSX: AI) (TSX: AI.DB.F) (TSX: AI.DB.G) today released its financial results for the year ended December 31, 2025.

2025 Highlights

• Annual net income of $49.1 million, compared to $47.9 million in the prior year

• Annual basic and diluted earnings per share of $1.03

• Special dividend of $0.10 per share to shareholders of record on December 31, 2025 to be paid on March 25, 2026

• Mortgage portfolio of $917.1 million

• Well-secured mortgage portfolio

  • 95.2% of the portfolio in first mortgages

  • 90.7% of the portfolio is less than 75% loan-to-value

  • Average loan-to-value is 61.4%

"Atrium delivered strong net income and earnings per share in 2025 despite the challenging lending environment that continues to put pressure on many market participants. These results reflect our strategy of disciplined underwriting, a focus on lower-risk sectors and a commitment to delivering steady and reliable dividends and earnings per share to our shareholders. For 2025, we delivered basic earnings per share of $1.03 and dividends of $1.03 per share, including a special dividend of $0.10 per share. This marked the fourth year in a row where our earnings exceeded $1.00 per share. Through increasing the size of our loan origination and underwriting team, we were able to grow our mortgage portfolio in 2025 by 3.4% to $917.1 million, while still maintaining a low average loan-to-value of 61.4%. We continue to have the support of our lenders and in October 2025 we expanded our credit facility by $40 million to $380 million with the addition of ATB Financial to our lending syndicate. Our ample funding sources are secure and give us the opportunity to grow the portfolio without any funding constraints. During the year we appointed PricewaterhouseCoopers LLP as our new auditor effective for the year ended December 31, 2025. We have an experienced and dedicated senior management team in place which positions Atrium for continued success. As we enter our 25^th anniversary year, we remain focused on delivering stable, attractive returns for our shareholders," said Rob Goodall, CEO of Atrium.

Conference call

Interested parties are invited to participate in a conference call with management on Friday, February 27, 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: Fourth quarter results). For a replay of the conference call (available until March 11, 2026) please call 1-833-607-0619, passcode 6813207#.

Results of operations

For the year ended December 31, 2025, Atrium reported assets of $893.6 million, up from $864.3 million at the end of 2024. Revenues were $85.1 million, a decrease of 12.5% from the prior year. Net income for 2025 was $49.1 million, an increase of 2.5% from the prior year. Atrium's allowance for mortgage losses at December 31, 2025 totaled $30.5 million or 3.32% of the gross mortgage portfolio.

For the year ended December 31, 2025, basic and diluted earnings per common share were $1.03, compared with $1.06 and $1.05 basic and diluted earnings per common share in the prior year, a decrease of 2.8% and 1.9%, respectively. For the fourth quarter of 2025, basic and diluted earnings per common share were $0.25, compared to $0.27 and $0.26 basic and diluted in the comparative quarter.

The Board of Directors declared a special dividend of $0.10 for 2025, resulting in a total dividend of $1.03 per common share paid to shareholders for the year, compared to $1.0625 for the prior year.

Mortgages receivable as at December 31, 2025 were $892.5 million, up from $863.2 million as at December 31, 2024. This was due to mortgage interest and principal advances exceeding repayments which was partially offset by a higher allowance for mortgage losses. During the year ended December 31, 2025, $358.6 million of mortgage principal was advanced and $316.7 million was repaid and transferred. The weighted average interest rate on the mortgage portfolio at December 31, 2025 was 8.98%, compared to 9.98% at December 31, 2024.

Consolidated Statements of Income and Comprehensive Income

(000s, except per share amounts)
		Year ended December 31
		2025			2024			2023
Revenue	$	85,144		$	97,263		$	98,574
Mortgage servicing and management fees		(8,790	)		(8,558	)		(8,465	)
Other expenses		(2,297	)		(1,301	)		(1,299	)
Provision for mortgage losses		(4,468	)		(13,571	)		(11,402	)
Income before financing costs		69,589			73,833			77,408
Financing costs		(20,524	)		(25,981	)		(25,923	)
Net income and comprehensive income	$	49,065		$	47,852		$	51,485
Basic earnings per share	$	1.03		$	1.06		$	1.18
Diluted earnings per share	$	1.03		$	1.05		$	1.14
Dividends declared	$	49,051		$	48,171		$	52,095
Mortgages receivable, end of year	$	892,456		$	863,169		$	876,733
Total assets, end of year	$	893,633		$	864,304		$	877,877
Shareholders' equity, end of year	$	525,054		$	516,980		$	482,206
Book value per share, end of year	$	10.96		$	10.96		$	10.97

 

Mortgage portfolio
(carrying amounts in 000s)

		As at December 31, 2025								As at December 31, 2024
				Carrying				% of						Outstanding			% of
Property Type		Number		amount				Portfolio			Number			amount			Portfolio
High-rise residential		18		$	245,843			26.8%			17		$	247,202			27.9%
Mid-rise residential		13			103,088			11.3%			20			139,738			15.8%
Low-rise residential		13			127,504			13.9%			12			152,827			17.2%
House and apartment		251			176,254			19.2%			219			154,713			17.5%
Condominium corporation		4			1,091			0.1%			6			1,279			0.1%
Residential portfolio		299			653,780			71.3%			274			695,759			78.5%
Commercial		27			263,294			28.7%			24			190,939			21.5%
Mortgage portfolio		326		$	917,074			100.0%			298		$	886,698			100.0%

 

		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
Greater Toronto Area ("GTA")		249			$	793,802			86.6%			60.5%			8.95%
Non-GTA Ontario		63				67,210			7.3%			64.0%			8.23%
British Columbia		14				56,062			6.1%			69.9%			10.29%
		326			$	917,074			100.0%			61.4%			8.98%

 

		As at December 31, 2024
Location of underlying property		Number of mortgages			Carrying amount			% of Portfolio			Weighted average loan-to-value			Weighted average interest rate
GTA		211		$	791,809			89.3%			60.6%			9.96%
Non-GTA Ontario		73			40,816			4.6%			69.6%			9.15%
British Columbia		14			54,073			6.1%			75.0%			10.96%
		298		$	886,698			100.0%			61.9%			9.98%

 

For further information on the financial results, further analysis of the company's mortgage portfolio, and definitions of non-IFRS measures, please refer to Atrium's consolidated financial statements and its management's discussion and analysis for the year ended December 31, 2025, available on SEDAR+ at www.sedarplus.ca, and on the company's website at www.atriummic.com.

2026 Second Quarter Dividends
Atrium is pleased to announce that the Board of Directors has declared a monthly cash dividend of $0.0775 per common share (subject to recission or adjustment at the discretion of the Board of Directors) payable on each dividend payment date listed below to shareholders of record at the close of business on the corresponding record date:

Dividend Month	Record Date	Dividend Payment Date
April 2026	April 30, 2026	May 13, 2026
May 2026	May 29, 2026	June 12, 2026
June 2026	June 30, 2026	July 10, 2026

 

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285534

FAQ

What did Atrium (AMIVF) report for full-year 2025 net income and EPS?

Atrium reported $49.1 million net income and $1.03 basic and diluted EPS for 2025. According to the company, net income rose 2.5% year-over-year while EPS remained above $1.00 for a fourth consecutive year, reflecting disciplined underwriting and portfolio growth.

What special dividend did Atrium (AMIVF) declare for 2025 and when is it payable?

Atrium declared a $0.10 special dividend per share for 2025, payable March 25, 2026. According to the company, shareholders of record on December 31, 2025 are eligible, bringing total 2025 dividends to $1.03 per share.

How large is Atrium's mortgage portfolio and what is the average loan-to-value for 2025?

Atrium's mortgage portfolio carrying amount was $917.1 million with a weighted average LTV of 61.4% at December 31, 2025. According to the company, 90.7% of the portfolio is below 75% LTV and 95.2% are first mortgages.

What dividend schedule did Atrium (AMIVF) set for the second quarter of 2026?

Atrium declared monthly cash dividends of $0.0775 per common share for April, May and June 2026. According to the company, record and payment dates are set for each month, with payments in May, June and July 2026 respectively.

Did Atrium (AMIVF) change its financing capacity in 2025?

Atrium expanded its credit facility by $40 million to a total of $380 million in October 2025. According to the company, the addition of ATB Financial to the lending syndicate increases funding capacity to support portfolio growth without funding constraints.

What material credit metrics did Atrium (AMIVF) report at year-end 2025?

At December 31, 2025 Atrium reported assets of $893.6M, mortgages receivable of $892.5M, and an allowance for losses of $30.5M (3.32% of gross portfolio). According to the company, these figures reflect prudent provisioning amid portfolio growth.