TORONTO, ON--(Marketwired - October 20, 2016) - Timbercreek Financial (TSX: TF) (the "Company") is pleased to announce that its board of directors (the "Board") has declared a monthly cash dividend of $0.057 per common share ("Common Share") of the Company to be paid on November 15, 2016 to holders of Common Shares of record on October 31, 2016.
The Company also offers a Dividend Reinvestment Plan (the "Plan"), which is eligible to holders of Common Shares and provides a convenient means to purchase additional Common Shares by reinvesting cash dividends at a potential discount and without having to pay commissions, service charges or brokerage fees.
Pursuant to the Plan and at the discretion of Timbercreek Asset Management Inc., (the "Manager"), Common Shares will be acquired in the open market at prevailing prices or issued from treasury at 98 percent of the average market price (the "Average Market Price") for the five trading day period ending on the third business day immediately prior to the dividend payment date (the "Trading Period").
Common Shares acquired under the Plan will be automatically enrolled in the Plan. Shareholders who hold their Common Shares through a broker, financial institution or other nominee must enroll for distribution reinvestment through their nominee holder.
The full text of the Plan can be obtained on the Company's website at http://www.timbercreekfinancial.com/investor-relations/dividend-reinvestment-plan
Third Quarter Financial Results
The Company will release its third quarter financial results on Tuesday, November 8, 2016. A live conference call to review the financial results will take place at 11:00 a.m. (EST) on Thursday, November 10 which will be followed by a question and answer period with analysts. A quarterly investor presentation to accompany management's comments during the conference call will be available an hour before the call. Please visit www.timbercreekfinancial.com -- Investor Relations -- Webcasts & Presentations.
Conference Call Details:
Speakers: Andrew Jones, Chief Executive Officer and Craig Geier, Chief Financial Officer of the Company
Dial-in-number(s): 1-(855) 223-7310
Event Conference ID: 95265934
The playback of the conference call will be available on www.timbercreekfinancial.com.
About Timbercreek Financial
Timbercreek Financial is a leading non-bank, commercial real estate lender providing shorter-duration, structured financing solutions to commercial real estate investors. Our sophisticated, service-oriented approach allows us to meet the needs of borrowers, including faster execution and more flexible terms that are not typically provided by Canadian financial institutions. By employing thorough underwriting, active management and strong governance, we are able to meet these needs while targeting strong risk-adjusted returns for investors.