Recent Insider Transactions • May 27
Insider recently sold CA$850k worth of stock On the 26th of May, Geoff Willis sold around 100k shares on-market at roughly CA$8.50 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$955k more than they bought in the last 12 months. Declared Dividend • May 22
First quarter dividend increased to CA$0.05 Dividend of CA$0.05 is 25% higher than last year. Ex-date: 1st June 2026 Payment date: 15th June 2026 Dividend yield will be 2.0%, which is lower than the industry average of 3.4%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (66% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 99% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 21
Dominion Lending Centres Inc. announces Quarterly dividend, payable on June 15, 2026 Dominion Lending Centres Inc. announced Quarterly dividend of CAD 0.0500 per share payable on June 15, 2026, ex-date on June 01, 2026 and record date on June 01, 2026. Reported Earnings • May 11
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: EPS: CA$0.06 (down from CA$0.079 in 1Q 2025). Revenue: CA$20.0m (up 6.5% from 1Q 2025). Net income: CA$4.80m (down 23% from 1Q 2025). Profit margin: 24% (down from 33% in 1Q 2025). Revenue missed analyst estimates by 4.2%. Earnings per share (EPS) also missed analyst estimates by 18%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Diversified Financial industry in Canada. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has increased by 59% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CA$9.55, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 11x in the Diversified Financial industry in Canada. Total returns to shareholders of 256% over the past three years. Reported Earnings • Mar 26
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: CA$0.31 (up from CA$2.57 loss in FY 2024). Revenue: CA$96.3m (up 25% from FY 2024). Net income: CA$24.6m (up CA$151.3m from FY 2024). Profit margin: 26% (up from net loss in FY 2024). The move to profitability was primarily driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 21%. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Diversified Financial industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 135 percentage points per year, which is a significant difference in performance. Announcement • Mar 13
Dominion Lending Centres Inc., Annual General Meeting, May 08, 2026 Dominion Lending Centres Inc., Annual General Meeting, May 08, 2026. Location: alberta, calgary Canada Declared Dividend • Feb 20
Third quarter dividend of CA$0.04 announced Shareholders will receive a dividend of CA$0.04. Ex-date: 2nd March 2026 Payment date: 13th March 2026 Dividend yield will be 1.7%, which is lower than the industry average of 3.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (39% cash payout ratio). The dividend has increased by an average of 14% per year over the past 9 years. However, payments have been volatile during that time. Announcement • Feb 17
Dominion Lending Centres Inc. Declares Quarterly Cash Dividend, Payable on March 13, 2026 Dominion Lending Centres Inc. announced that its Board of Directors has declared a quarterly cash dividend of $0.04 per class "A" common share that will be payable on March 13, 2026 to shareholders of record as of March 2, 2026. The dividend will be designated as an "eligible dividend" for Canadian income tax purposes. Declared Dividend • Nov 20
Third quarter dividend of CA$0.04 announced Shareholders will receive a dividend of CA$0.04. Ex-date: 1st December 2025 Payment date: 15th December 2025 Dividend yield will be 1.6%, which is lower than the industry average of 3.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (39% cash payout ratio). The dividend has increased by an average of 14% per year over the past 9 years. However, payments have been volatile during that time. Announcement • Nov 19
Dominion Lending Centres Inc. announces Quarterly dividend, payable on December 15, 2025 Dominion Lending Centres Inc. announced Quarterly dividend of CAD 0.0400 per share payable on December 15, 2025, ex-date on December 01, 2025 and record date on December 01, 2025. Reported Earnings • Nov 09
Third quarter 2025 earnings: EPS misses analyst expectations Third quarter 2025 results: EPS: CA$0.11 (in line with 3Q 2024). Revenue: CA$26.4m (up 20% from 3Q 2024). Net income: CA$8.84m (up 68% from 3Q 2024). Profit margin: 34% (up from 24% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Diversified Financial industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 173 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Sep 08
Insider recently sold CA$166k worth of stock On the 5th of September, Geoff Willis sold around 18k shares on-market at roughly CA$9.00 per share. This transaction amounted to 1.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$943k more than they bought in the last 12 months. Announcement • Aug 29
Dominion Lending Centres Inc. Appoints Dave Teixeira to Chief Operating Officer Dominion Lending Centres Inc. announced the appointment of Dave Teixeira to Chief Operating Officer of DLC Group. Declared Dividend • Aug 21
Second quarter dividend of CA$0.04 announced Shareholders will receive a dividend of CA$0.04. Ex-date: 2nd September 2025 Payment date: 15th September 2025 Dividend yield will be 1.6%, which is lower than the industry average of 3.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (35% cash payout ratio). The dividend has increased by an average of 14% per year over the past 9 years. However, payments have been volatile during that time. Announcement • Aug 20
Dominion Lending Centres Inc. announces Quarterly dividend, payable on September 15, 2025 Dominion Lending Centres Inc. announced Quarterly dividend of CAD 0.0400 per share payable on September 15, 2025, ex-date on September 02, 2025 and record date on September 02, 2025. Reported Earnings • Aug 10
Second quarter 2025 earnings released: EPS: CA$0.10 (vs CA$0.085 in 2Q 2024) Second quarter 2025 results: EPS: CA$0.10 (up from CA$0.085 in 2Q 2024). Revenue: CA$24.6m (up 31% from 2Q 2024). Net income: CA$7.65m (up 87% from 2Q 2024). Profit margin: 31% (up from 22% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Diversified Financial industry in North America. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 150 percentage points per year, which is a significant difference in performance. New Risk • Aug 08
New major risk - Revenue and earnings growth Earnings have declined by 55% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 55% per year over the past 5 years. Shareholders have been substantially diluted in the past year (63% increase in shares outstanding). Price Target Changed • Jul 21
Price target increased by 7.6% to CA$10.67 Up from CA$9.92, the current price target is an average from 3 analysts. New target price is 22% above last closing price of CA$8.73. Stock is up 137% over the past year. The company posted a net loss per share of CA$2.57 last year. Announcement • Jul 10
Dominion Lending Centres Inc. to Report Q2, 2025 Results on Aug 07, 2025 Dominion Lending Centres Inc. announced that they will report Q2, 2025 results After-Market on Aug 07, 2025 New Risk • Jun 26
New minor risk - Dividend sustainability The dividend is not well covered by earnings. The company is paying a dividend despite being loss-making. Dividend yield: 1.8% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (62% increase in shares outstanding). Minor Risk Paying a dividend despite being loss-making. Declared Dividend • May 22
First quarter dividend increased to CA$0.04 Dividend of CA$0.04 is 33% higher than last year. Ex-date: 30th May 2025 Payment date: 13th June 2025 Dividend yield will be 1.5%, which is lower than the industry average of 3.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (26% cash payout ratio). The dividend has increased by an average of 10% per year over the past 9 years. However, payments have been volatile during that time. Announcement • May 16
Dominion Lending Centres Inc. Declares Quarterly Cash Dividend, Payable on June 13, 2025 Dominion Lending Centres Inc. announced that its Board of Directors has declared a quarterly cash dividend of $0.04 per class "A" common share, representing an increase of 33%. The quarterly dividend is equivalent to $0.16 per share on an annualized basis, up from $0.12 per share in 2024. The dividend is payable on June 13, 2025, to shareholders of record as of May 30, 2025. The dividend will be designated as an "eligible dividend" for Canadian income tax purposes. Reported Earnings • May 09
First quarter 2025 earnings released: EPS: CA$0.08 (vs CA$0.055 in 1Q 2024) First quarter 2025 results: EPS: CA$0.08 (up from CA$0.055 in 1Q 2024). Revenue: CA$18.7m (up 37% from 1Q 2024). Net income: CA$6.23m (up 137% from 1Q 2024). Profit margin: 33% (up from 19% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Diversified Financial industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 116 percentage points per year, which is a significant difference in performance. New Risk • May 09
New major risk - Revenue and earnings growth Earnings have declined by 29% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 29% per year over the past 5 years. Shareholders have been substantially diluted in the past year (63% increase in shares outstanding). Minor Risk Significant insider selling over the past 3 months (CA$59m sold). Announcement • Apr 15
Dominion Lending Centres Inc. to Report Q1, 2025 Results on May 07, 2025 Dominion Lending Centres Inc. announced that they will report Q1, 2025 results After-Market on May 07, 2025 Reported Earnings • Mar 28
Full year 2024 earnings released Full year 2024 results: Revenue: CA$76.8m (up 23% from FY 2023). Net loss: CA$126.8m (down CA$126.8m from profit in FY 2023). Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Diversified Financial industry in Canada. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Announcement • Mar 13
Dominion Lending Centres Inc. to Report Fiscal Year 2024 Results on Mar 27, 2025 Dominion Lending Centres Inc. announced that they will report fiscal year 2024 results After-Market on Mar 27, 2025 Announcement • Mar 05
Dominion Lending Centres Inc., Annual General Meeting, May 08, 2025 Dominion Lending Centres Inc., Annual General Meeting, May 08, 2025. Location: alberta, calgary Canada Price Target Changed • Mar 03
Price target increased by 9.6% to CA$9.50 Up from CA$8.67, the current price target is an average from 3 analysts. New target price is 17% above last closing price of CA$8.15. Stock is up 195% over the past year. The company posted earnings per share of CA$0.0013 last year. Announcement • Mar 01
Dominion Lending Centres Inc. announced that it has received CAD 59.14624 million in funding from Mauris Family Investments Ltd. On February 28, 2025. Dominion Lending Centres Inc. has closed the transaction. Commission paid to the agents is CAD 2,365,849.60. Declared Dividend • Feb 20
Third quarter dividend of CA$0.03 announced Dividend of CA$0.03 is the same as last year. Ex-date: 28th February 2025 Payment date: 14th March 2025 Dividend yield will be 1.4%, which is lower than the industry average of 3.4%. Sustainability & Growth Dividend is covered by both earnings (58% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 12% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 220% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 14
Dominion Lending Centres Inc. Announces Quarterly Dividend, Payable on March 14, 2025 Dominion Lending Centres Inc. announce that its Board of Directors has declared a cash dividend of $0.03 per class “A” common share that will be payable on March 14, 2025 to shareholders of record as of February 28, 2025. Price Target Changed • Feb 12
Price target increased by 8.2% to CA$9.38 Up from CA$8.67, the current price target is an average from 2 analysts. New target price is 11% above last closing price of CA$8.44. Stock is up 201% over the past year. The company is forecast to post a net loss per share of CA$2.23 compared to earnings per share of CA$0.0013 last year. New Risk • Jan 26
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: CA$938k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.9x net interest cover). Shareholders have been substantially diluted in the past year (63% increase in shares outstanding). Minor Risk Significant insider selling over the past 3 months (CA$938k sold). Recent Insider Transactions • Jan 26
Insider recently sold CA$938k worth of stock On the 20th of January, Geoff Willis sold around 125k shares on-market at roughly CA$7.50 per share. This transaction amounted to 7.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$1.3m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CA$8.45, the stock trades at a trailing P/E ratio of 66.4x. Average forward P/E is 10x in the Diversified Financial industry in Canada. Total returns to shareholders of 142% over the past three years. New Risk • Jan 17
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 63% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.9x net interest cover). Shareholders have been substantially diluted in the past year (63% increase in shares outstanding). Valuation Update With 7 Day Price Move • Nov 26
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CA$6.80, the stock trades at a trailing P/E ratio of 32.7x. Average forward P/E is 11x in the Diversified Financial industry in Canada. Total returns to shareholders of 106% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CA$3.08 per share. Announcement • Nov 22
Dominion Lending Centres Inc. Announces Executive Changes Dominion Lending Centres Inc. announced that Steve Mitchell has been promoted to Chief Information Officer (CIO) for DLCG. Steve joined Newton in 2017 and has served as Vice-President, IT and Applications since 2018, where he has been instrumental in the development and success of Newtons proprietary connectivity platform, Velocity. Steve holds a Bachelor of Applied Science (B.A.Sc.) in Electrical Engineering, which has provided a strong foundation for his innovative approach to technology and his ability to drive solutions for DLCG. Concurrently, the Corporation announces the departure of Suavek Kownacki, Chief Technology Officer of the Corporation. Suavek had been with the Corporation since 2019 and had been a key contributor in ensuring a stable technology environment for the Corporation for the last five years. Declared Dividend • Nov 18
Third quarter dividend of CA$0.03 announced Dividend of CA$0.03 is the same as last year. Ex-date: 2nd December 2024 Payment date: 16th December 2024 Dividend yield will be 2.1%, which is lower than the industry average of 3.4%. Sustainability & Growth Dividend is well covered by both earnings (14% earnings payout ratio) and cash flows (25% cash payout ratio). The dividend has increased by an average of 12% per year over the past 8 years. However, payments have been volatile during that time. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Nov 16
Dominion Lending Centres Inc. Declares Class “A” Common Share Dividend, Payable on December 16, 2024 Dominion Lending Centres Inc. announced that its Board of Directors has declared a cash dividend of $0.03 per class “A” common share that will be payable on December 16, 2024 to shareholders of record as of December 2, 2024. Price Target Changed • Nov 08
Price target increased by 8.5% to CA$6.38 Up from CA$5.88, the current price target is an average from 2 analysts. New target price is 7.5% above last closing price of CA$5.93. Stock is up 120% over the past year. The company posted earnings per share of CA$0.0013 last year. Reported Earnings • Nov 07
Third quarter 2024 earnings released: EPS: CA$0.11 (vs CA$0.11 in 3Q 2023) Third quarter 2024 results: EPS: CA$0.11 (up from CA$0.11 in 3Q 2023). Revenue: CA$22.1m (up 13% from 3Q 2023). Net income: CA$5.27m (flat on 3Q 2023). Profit margin: 24% (down from 27% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Diversified Financial industry in Canada. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Price Target Changed • Oct 16
Price target increased by 16% to CA$5.38 Up from CA$4.63, the current price target is an average from 2 analysts. New target price is 11% above last closing price of CA$4.83. Stock is up 156% over the past year. The company posted earnings per share of CA$0.0013 last year. Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CA$5.00, the stock trades at a trailing P/E ratio of 24.1x. Average forward P/E is 13x in the Diversified Financial industry in Canada. Total returns to shareholders of 76% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CA$2.83 per share. Declared Dividend • Aug 19
Second quarter dividend of CA$0.03 announced Dividend of CA$0.03 is the same as last year. Ex-date: 30th August 2024 Payment date: 16th September 2024 Dividend yield will be 3.0%, which is lower than the industry average of 3.4%. Sustainability & Growth Dividend is covered by both earnings (58% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has increased by an average of 12% per year over the past 8 years. However, payments have been volatile during that time. Earnings per share has grown by 19% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Aug 16
Dominion Lending Centres Inc. Declares Class “A” Common Share Dividend, Payable on September 16, 2024 Dominion Lending Centres Inc. announced that its Board of Directors has declared a cash dividend of $0.03 per class “A” common share that will be payable on September 16, 2024 to shareholders of record as of September 2, 2024. The dividend will be designated as an "eligible dividend" for Canadian income tax purposes. Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: CA$0.08 (vs CA$0.066 loss in 2Q 2023) Second quarter 2024 results: EPS: CA$0.08 (up from CA$0.066 loss in 2Q 2023). Revenue: CA$18.8m (up 21% from 2Q 2023). Net income: CA$4.09m (up CA$7.24m from 2Q 2023). Profit margin: 22% (up from net loss in 2Q 2023). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Diversified Financial industry in Canada. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Price Target Changed • Aug 08
Price target increased by 12% to CA$4.63 Up from CA$4.13, the current price target is an average from 2 analysts. New target price is 20% above last closing price of CA$3.86. Stock is up 62% over the past year. The company posted earnings per share of CA$0.0013 last year. Announcement • Jul 24
Dominion Lending Centres Inc. to Report Q2, 2024 Results on Aug 07, 2024 Dominion Lending Centres Inc. announced that they will report Q2, 2024 results After-Market on Aug 07, 2024 Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CA$3.89, the stock trades at a trailing P/E ratio of 68.4x. Average forward P/E is 11x in the Diversified Financial industry in Canada. Total returns to shareholders of 19% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CA$2.49 per share. Recent Insider Transactions • Jun 20
Insider recently sold CA$149k worth of stock On the 18th of June, Geoff Willis sold around 41k shares on-market at roughly CA$3.61 per share. This transaction amounted to 2.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$242k more than they bought in the last 12 months. Declared Dividend • May 20
First quarter dividend of CA$0.03 announced Dividend of CA$0.03 is the same as last year. Ex-date: 31st May 2024 Payment date: 14th June 2024 Dividend yield will be 3.6%, which is about the same as the industry average. Sustainability & Growth Dividend is not covered by earnings (211% earnings payout ratio). However, it is well covered by cash flows (40% cash payout ratio). The dividend has increased by an average of 12% per year over the past 8 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 135% to bring the payout ratio under control, which is more than the 25% EPS growth achieved over the last 5 years. Announcement • May 18
Dominion Lending Centres Inc. Announces Quarterly Dividend, Payable on June 14, 2024 Dominion Lending Centres Inc. announced that its Board of Directors has declared a cash dividend of $0.03 per class “A” common share that will be payable on June 14, 2024 to shareholders of record as of May 31, 2024. Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CA$3.55, the stock trades at a trailing P/E ratio of 62.4x. Average forward P/E is 10x in the Diversified Financial industry in Canada. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at CA$2.40 per share. Price Target Changed • May 09
Price target increased by 10% to CA$4.13 Up from CA$3.75, the current price target is an average from 2 analysts. New target price is 31% above last closing price of CA$3.15. Stock is up 31% over the past year. The company posted earnings per share of CA$0.0013 last year. Reported Earnings • May 08
First quarter 2024 earnings released: EPS: CA$0.05 (vs CA$0.001 loss in 1Q 2023) First quarter 2024 results: EPS: CA$0.05 (up from CA$0.001 loss in 1Q 2023). Revenue: CA$13.6m (up 17% from 1Q 2023). Net income: CA$2.63m (up CA$2.68m from 1Q 2023). Profit margin: 19% (up from net loss in 1Q 2023). Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Diversified Financial industry in Canada. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 8% per year. Announcement • Apr 27
Keith and Mark acquired 52% stake in Impact Radio Accessories Inc. from Dominion Lending Centres Inc. (TSX:DLCG) for $3.7 million. Keith and Mark acquired 52% stake in Impact Radio Accessories Inc. from Dominion Lending Centres Inc. (TSX:DLCG) for $3.7 million on April 25, 2024. The Corporation will use the cash proceeds from the sale to fully repay its junior term facility.
Keith and Mark completed the acquisition of 52% stake in Impact Radio Accessories Inc. from Dominion Lending Centres Inc. (TSX:DLCG) on April 25, 2024. Announcement • Apr 24
Dominion Lending Centres Inc. to Report Q1, 2024 Results on May 07, 2024 Dominion Lending Centres Inc. announced that they will report Q1, 2024 results After-Market on May 07, 2024 Reported Earnings • Mar 20
Full year 2023 earnings released Full year 2023 results: Revenue: CA$62.5m (down 12% from FY 2022). Net income: CA$64.0k (down 100% from FY 2022). Profit margin: 0.1% (down from 17% in FY 2022). Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Diversified Financial industry in Canada. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 10% per year. Announcement • Mar 06
Dominion Lending Centres Inc. to Report Q4, 2023 Results on Mar 19, 2024 Dominion Lending Centres Inc. announced that they will report Q4, 2023 results After-Market on Mar 19, 2024 Announcement • Mar 02
Dominion Lending Centres Inc., Annual General Meeting, May 09, 2024 Dominion Lending Centres Inc., Annual General Meeting, May 09, 2024. Declared Dividend • Feb 22
Third quarter dividend of CA$0.03 announced Dividend of CA$0.03 is the same as last year. Ex-date: 29th February 2024 Payment date: 15th March 2024 Dividend yield will be 4.5%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 10x earnings) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 13% per year over the past 7 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 1,120% to bring the payout ratio under control. EPS is expected to grow by 300% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Price Target Changed • Feb 16
Price target increased by 7.4% to CA$3.63 Up from CA$3.38, the current price target is an average from 2 analysts. New target price is 31% above last closing price of CA$2.76. Stock is down 15% over the past year. The company is forecast to post earnings per share of CA$0.03 for next year compared to CA$0.25 last year. Announcement • Feb 16
Dominion Lending Centres Inc. Declares Cash Dividend, Payable on March 15, 2024 Dominion Lending Centres Inc. announced that its board of directors has declared a cash dividend of $0.03 per class A common share that will be payable on March 15, 2024 to shareholders of record as of March 1, 2024. Announcement • Dec 07
Dominion Lending Centres Inc. Announces Executive Changes Dominion Lending Centres Inc. announced that its Board of Directors has approved certain management changes to promote operational efficiency and collaboration. Eddy Cocciollo, current Co-President of the Corporation, has been appointed the President of the DLC Group of Companies (“DLC Group”). James Bell, current Co-President and General Counsel of the Corporation, has been appointed Executive Vice President, Corporate and Chief Legal Officer. In other management changes, Dong Lee, Chief Operating Officer of the Corporation, will be leaving the Corporation in February, 2024 to pursue an opportunity with Axiom Innovations. Dong served as COO for the Corporation since 2019 and joined Mortgage Architects in 2005. Dave Teixeira (currently Executive Vice President, Business Development and Public Affairs) has been appointed Executive Vice President, DLCG Operations. Dave joined DLC in 2015 and has many responsibilities, including managing partnership relationships, media and government relations and special projects. Announcement • Nov 18
Dominion Lending Centres Inc. Announces Quarterly Dividend, Payable on December 15, 2023 Dominion Lending Centres Inc. announces that its Board of Directors has declared a cash dividend of $0.03 per class “A” common share that will be payable on December 15, 2023 to shareholders of record on December 1, 2023. The dividend will be designated as an "eligible dividend" for Canadian income tax purposes. New Risk • Nov 10
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.9% Last year net profit margin: 10% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (8.0% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 282% Paying a dividend despite having no free cash flows. Minor Risks Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (CA$116.8m market cap, or US$84.6m). Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: CA$0.11 (vs CA$0.61 in 3Q 2022) Third quarter 2023 results: EPS: CA$0.11 (down from CA$0.61 in 3Q 2022). Revenue: CA$19.6m (up 9.2% from 3Q 2022). Net income: CA$5.27m (down 82% from 3Q 2022). Profit margin: 27% (down from 164% in 3Q 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Diversified Financial industry in Canada. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 7% per year. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CA$2.42, the stock trades at a trailing P/E ratio of 4.7x. Average forward P/E is 9x in the Diversified Financial industry in Canada. Total returns to shareholders of 20% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CA$4.63 per share. Announcement • Nov 08
Dominion Lending Centres Inc. Announces CFO Changes, effective November 20, 2023 Dominion Lending Centres Inc. announced that effective November 20, 2023, Robin Burpee (Co-CFO) will be leaving the Corporation and Geoff Hague will transition to Chief Financial Officer from Co-CFO. Geoff joined DLC in 2009 and was appointed Chief Financial Officer in January 2014. He was appointed Co-CFO of the Corporation in January 2021, when it amalgamated with Founders Advantage Capital Corp. Robin was appointed Chief Financial Officer of FAC in May 2019 and helped transition the Corporation from FAC to Dominion Len ding Centres Inc. Announcement • Oct 25
Dominion Lending Centres Inc. to Report Q3, 2023 Results on Nov 07, 2023 Dominion Lending Centres Inc. announced that they will report Q3, 2023 results After-Market on Nov 07, 2023 Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CA$2.15, the stock trades at a trailing P/E ratio of 4.2x. Average forward P/E is 10x in the Diversified Financial industry in Canada. Total returns to shareholders of 55% over the past three years. Upcoming Dividend • Aug 24
Upcoming dividend of CA$0.03 per share at 5.6% yield Eligible shareholders must have bought the stock before 31 August 2023. Payment date: 15 September 2023. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 5.6%. Lower than top quartile of Canadian dividend payers (6.3%). Higher than average of industry peers (3.1%). Announcement • Aug 19
Dominion Lending Centres Inc. Announces Quarterly Dividend, Payable on September 15, 2023 Dominion Lending Centres Inc. announced that its Board of Directors has declared a cash dividend of $0.03 per class “A” common share that will be payable on September 15, 2023 to shareholders of record on September 1, 2023. Price Target Changed • Aug 17
Price target increased by 10% to CA$3.85 Up from CA$3.50, the current price target is an average from 2 analysts. New target price is 83% above last closing price of CA$2.10. Stock is down 36% over the past year. The company posted earnings per share of CA$0.25 last year. Reported Earnings • Aug 10
Second quarter 2023 earnings released: CA$0.07 loss per share (vs CA$0.14 profit in 2Q 2022) Second quarter 2023 results: CA$0.07 loss per share (down from CA$0.14 profit in 2Q 2022). Revenue: CA$15.5m (down 29% from 2Q 2022). Net loss: CA$3.16m (down 147% from profit in 2Q 2022). Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Diversified Financial industry in Canada. Over the last 3 years on average, earnings per share has increased by 21% per year and the company’s share price has also increased by 21% per year. Announcement • Jul 28
Dominion Lending Centres Inc. to Report Q2, 2023 Results on Aug 09, 2023 Dominion Lending Centres Inc. announced that they will report Q2, 2023 results After-Market on Aug 09, 2023 Buying Opportunity • Jul 07
Now 25% undervalued after recent price drop Over the last 90 days, the stock is down 38%. The fair value is estimated to be CA$2.43, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Meanwhile, the company has become profitable. Upcoming Dividend • May 24
Upcoming dividend of CA$0.03 per share at 4.8% yield Eligible shareholders must have bought the stock before 31 May 2023. Payment date: 15 June 2023. Payout ratio is a comfortable 17% but the company is paying out more than the cash it is generating. Trailing yield: 4.8%. Lower than top quartile of Canadian dividend payers (6.3%). Higher than average of industry peers (3.2%). Announcement • May 19
Dominion Lending Centres Inc. Announces Quarterly Dividend, Payable on June 15, 2023 Dominion Lending Centres Inc. announced that its Board of Directors has declared a cash dividend of $0.03 per class “A” common share that will be payable on June 15, 2023 to shareholders of record on June 1, 2023. The dividend will be designated as an "eligible dividend" for Canadian income tax purposes. Reported Earnings • May 11
First quarter 2023 earnings released First quarter 2023 results: Revenue: CA$11.6m (down 32% from 1Q 2022). Net loss: CA$47.0k (loss narrowed 100% from 1Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Diversified Financial industry in Canada. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 47% per year, which means it is well ahead of earnings. Reported Earnings • Mar 30
Full year 2022 earnings released Full year 2022 results: Revenue: CA$70.7m (down 10% from FY 2021). Net income: CA$12.1m (up CA$17.6m from FY 2021). Profit margin: 17% (up from net loss in FY 2021). The move to profitability was driven by lower expenses. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 8.6% growth forecast for the Diversified Financial industry in Canada. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 54% per year, which means it is well ahead of earnings. Price Target Changed • Mar 29
Price target decreased by 11% to CA$4.25 Down from CA$4.75, the current price target is an average from 2 analysts. New target price is 59% above last closing price of CA$2.67. Stock is down 28% over the past year. The company posted earnings per share of CA$0.16 last year. Upcoming Dividend • Feb 21
Upcoming dividend of CA$0.03 per share at 3.7% yield Eligible shareholders must have bought the stock before 28 February 2023. Payment date: 15 March 2023. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Canadian dividend payers (5.8%). In line with average of industry peers (4.0%). Announcement • Feb 16
Dominion Lending Centres Inc. Declares Quarterly Cash Dividend, Payable on March 15, 2023 Dominion Lending Centres Inc. announced that its Board of Directors has declared a cash dividend of $0.03 per class A common share that will be payable on March 15, 2023 to shareholders of record on March 1, 2023. The dividend will be designated as an eligible dividend for Canadian income tax purposes. Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CA$3.10, the stock trades at a trailing P/E ratio of 19.6x. Average forward P/E is 8x in the Mortgage industry in Canada. Total returns to shareholders of 155% over the past three years. Valuation Update With 7 Day Price Move • Nov 24
Investor sentiment improved over the past week After last week's 25% share price gain to CA$3.50, the stock trades at a trailing P/E ratio of 22.1x. Average forward P/E is 9x in the Mortgage industry in Canada. Total returns to shareholders of 257% over the past three years. Upcoming Dividend • Nov 23
Upcoming dividend of CA$0.03 per share Eligible shareholders must have bought the stock before 30 November 2022. Payment date: 15 December 2022. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Canadian dividend payers (5.9%). Lower than average of industry peers (4.2%). Announcement • Nov 18
Dominion Lending Centres Announces Quarterly Dividend Payable on December 15, 2022 Dominion Lending Centres Inc. announced that its Board of Directors has declared a cash dividend of $0.03 per class “A” common share that will be payable on December 15, 2022 to shareholders of record on December 1, 2022. The dividend will be designated as an "eligible dividend" for Canadian income tax purposes. Price Target Changed • Nov 16
Price target decreased to CA$4.75 Down from CA$5.50, the current price target is an average from 2 analysts. New target price is 82% above last closing price of CA$2.61. Stock is down 12% over the past year. The company posted a net loss per share of CA$0.12 last year. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: CA$0.61 (vs CA$0.011 in 3Q 2021) Third quarter 2022 results: EPS: CA$0.61 (up from CA$0.011 in 3Q 2021). Revenue: CA$17.9m (down 20% from 3Q 2021). Net income: CA$29.4m (up CA$28.9m from 3Q 2021). Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Mortgage industry in Canada. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 38% per year, which means it is well ahead of earnings.