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Builders Capital Mortgage Corp V.BCF

Financial Services
Builders Capital Mortgage Corp. is a Canada-based mortgage lender. The principal business of the Company is to acquire, originate and maintain a portfolio consisting primarily of construction mortgages that are secured by development stage residential real property. The Company's investment objective is to generate attractive returns, relative to risk, in order to provide stable and consistent distributions to shareholders while remaining focused on capital preservation and satisfying the criteria mandated for MIC. The Company provides short-term course-of-construction financing to builders of residential, wood-frame properties in Western Canada. The Company's mortgage portfolio and operations are managed by Builders Capital Management Corp. (the Manager).


TSXV:BCF - Post by User

Builders Capital Mortgage Corp
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Post by sdhakaon Jun 19, 2024 8:00pm
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Post# 36097026

BCF is Pursuing a $50M Bond Financing

BCF is Pursuing a $50M Bond Financing
  • In Q1-2024, BCF reported record revenue (up 9% YoY) due to higher lending rates. However, EPS decreased 2% due to higher loan loss provisions. EPS was 5% higher than our estimate. While loan loss provisions were in line, lending rates were higher than anticipated.
  • Annual dividends remained unchanged at $0.80/share, implying a yield of 9.4%.
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