"While the portfolio continues to perform well - reflected in strong turnover and zero principal impairments - we are experiencing higher than normal competition in the market for loans secured by income-producing commercial real estate, resulting in lower earnings for the first half of 2014," said
He added, "the increased competition from institutional lenders speaks to the strength of the market fundamentals and attributes of this asset class. We believe our continued focus on income-producing properties, thorough underwriting, active management and strong governance will serve our investors well over time."
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, without having to pay commissions, service charges or brokerage fees.
Pursuant to the Plan, and at the discretion of the Manager, Common Shares will be acquired in the open market at prevailing prices or issued from treasury at 95 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 Timbercreek website at http://www.timbercreek.com/funds/timbercreek-mortgage-investment-corporation/dividend-reinvestment-plan.
About the Company
The Company provides investors with an opportunity to invest in a
diversified portfolio of mortgage and loan investments originated and
underwritten by its manager,