Timbercreek Financial Corp. (TF) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.937 In the presentation, we will conduct a question and answer session for analysts. 00:00:04.937 -- 00:00:08.883 Analysts are asked to raise their hand to register for a question. 00:00:08.883 -- 00:00:11.846 As a reminder, today's call is being recorded. 00:00:11.846 -- 00:00:14.450 I would now like to turn the meeting over to Blair Tamblyn. 00:00:14.450 -- 00:00:17.251 Please go ahead. 00:00:17.454 -- 00:00:19.576 Thank you, operator. Good afternoon, everybody. 00:00:19.576 -- 00:00:23.822 Thanks for joining us to discuss the first quarter financial results. 00:00:23.822 -- 00:00:29.005 I'm joined as usual by Scott Rowland, CIO, Tracy Johnson, CFO, and Jeff McTague. 00:00:29.005 -- 00:00:33.047 our head of Canadian Originations and Global Syndications. 00:00:33.270 -- 00:00:37.274 As we discussed on the year-end call, we're seeing an overall improvement in business 00:00:37.274 -- 00:00:42.320 fundamentals in 2025, with BOC rate cuts spurring increased financing 00:00:42.320 -- 00:00:43.742 opportunities. 00:00:43.742 -- 00:00:47.846 It was a solid first quarter, highlighted by healthy income levels, allowing us to build 00:00:47.846 -- 00:00:51.230 on our long-term track record of stable monthly dividends. 00:00:51.230 -- 00:00:55.375 Of note, net investment income was $28.6 million. 00:00:55.375 -- 00:00:59.946 We generated a distributable income of $0.19 per share, at a payout ratio of 93%. 00:00:59.946 -- 00:01:02.727 And EPS was 18 00:01:02.730 -- 00:01:07.155 cents a share, comfortably within the expected quarterly range. 00:01:07.155 -- 00:01:10.580 Transaction activity was solid in the first quarter, and the pipeline is building, as 00:01:10.580 -- 00:01:15.647 we forecasted at year end. While the broader market volatility f...