Welcome to our dedicated page for Atrium Mortgage news (Ticker: AMIVF), a resource for investors and traders seeking the latest updates and insights on Atrium Mortgage stock.
Atrium Mortgage Investment Corporation reports developments tied to its role as a Mortgage Investment Corporation and non-bank lender for residential and commercial mortgages in major urban centres in Canada. Its recurring updates cover quarterly and annual financial results, mortgage receivables, principal advances and repayments, portfolio interest-rate measures, loan-to-value metrics, and allowances for mortgage losses.
Company announcements also address monthly and special dividend declarations, its dividend reinvestment plan, investor conference calls, credit facility changes, auditor appointments, and finance leadership updates. Atrium’s news flow is closely tied to mortgage portfolio performance, dividend policy, and the tax-distribution framework applicable to Canadian MICs.
Atrium Mortgage Investment (TSX: AI) announced its financial results for Q1 2024, reporting a net income of $12.0 million, down 15.3% from the previous year. Basic and diluted EPS were $0.27. The mortgage portfolio grew to $886.1 million, a 4.8% increase compared to Q1 2023. The portfolio remained high quality, with 96.7% in first mortgages and an average loan-to-value of 64.0%. Revenues increased by 6.3% to $25.2 million, but the allowance for mortgage losses was raised to $24.9 million (2.81% of the portfolio). Despite a 4.8% portfolio growth, assets declined slightly from $877.9 million to $868.3 million, and mortgages receivable decreased to $867.1 million. The weighted average interest rate on the mortgage portfolio dropped marginally to 11.25% from 11.42%.
Atrium Mortgage Investment (TSX: AI) announced a dividend of $0.075 per common share for May 2024, payable on June 12, 2024. The company pays monthly dividends at an annual rate of $0.90 per share and offers a special dividend if declared dividends are less than taxable income. Financial results for Q1 2024 will be released on May 14, 2024, with a conference call scheduled for May 15, 2024. Atrium also offers a dividend reinvestment plan (DRIP) for shareholders.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.