Timbercreek Financial (TSE:TF) has released an update.
Timbercreek Financial reported a successful fiscal year with a record net investment income of $124.2 million, an increase in net income to $66.4 million, and a rise in distributable income to $70.4 million, leading to a special dividend announcement. Despite a challenging real estate cycle, the company managed to increase its shareholders’ equity to $701.1 million and anticipates a positive investment environment in 2024. The fourth quarter also saw strong performance, with net investment income reaching $29.7 million and a strategic approach to new lending and portfolio management.
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