Q1 2023 Timbercreek Financial Corp Earnings Call Transcript
Good afternoon, everyone. Thanks for joining us to discuss the first quarter financial results. I'm joined by Scott Rowland, CIO; Tracy Johnston, CFO; and Geoff McTait, Head of Canadian Originations & Global Syndications.
In Q1 '23, we reported another strong quarter -- another quarter of strong financial performance and year-over-year increases in earnings and distributable cash. Of note, we delivered record quarterly net investment income of $32.7 million, up 44% from last year, record adjusted net income and comprehensive income of $18 million, up from $13.8 million in the same period last year, and a significant increase in distributable income, which reached $18.3 million or $0.22 per share at a very comfortable payout ratio of 79.1%. While transaction activity was lighter in the first quarter, we continue to see healthy borrower demand and anticipate higher new funding activity as we look ahead in coming quarters. We have the financial capacity and the team ready
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