Declared Dividend • Jun 26
First quarter dividend of CA$0.013 announced Dividend of CA$0.013 is the same as last year. Ex-date: 30th June 2026 Payment date: 15th July 2026 Dividend yield will be 5.9%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has increased by an average of 26% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 41% to shift the payout ratio to a potentially unsustainable range, which is more than the 9.7% EPS decline seen over the last 5 years. Announcement • Jun 24
Urbanfund Corp. Declares Dividend for the Three-Month Period Ended June 30, 2026, Payable on July 15, 2026 Urbanfund Corp. announced that the Board of Directors of the Company has declared a dividend of $0.0125 per common share for the three-month period ended June 30, 2026, representing $0.05 per share on an annualized basis. The dividend is payable on July 15, 2026 to the shareholders of record on June 30, 2026. Reported Earnings • May 30
First quarter 2026 earnings released: EPS: CA$0.028 (vs CA$0.023 in 1Q 2025) First quarter 2026 results: EPS: CA$0.028 (up from CA$0.023 in 1Q 2025). Revenue: CA$2.56m (down 5.8% from 1Q 2025). Net income: CA$1.51m (up 23% from 1Q 2025). Profit margin: 59% (up from 45% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 1% per year. Reported Earnings • Apr 28
Full year 2025 earnings released Full year 2025 results: Net income: (down CA$9.62m from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 3% per year. New Risk • Apr 28
New major risk - Revenue and earnings growth Earnings have declined by 0.7% 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 Debt is not well covered by operating cash flow (8.9% operating cash flow to total debt). Earnings have declined by 0.7% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (CA$48.5m market cap, or US$35.5m). Announcement • Apr 21
Urbanfund Corp., Annual General Meeting, Jun 15, 2026 Urbanfund Corp., Annual General Meeting, Jun 15, 2026. Location: ontario, toronto Canada Announcement • Mar 24
Urbanfund Corp. Declares Dividend for the Three-Month Period Ended March 31, 2026, Payable on April 15, 2026 Urbanfund Corp. announced that the Board of Directors of the Company has declared a dividend of $0.0125 per common share for the three-month period ended March 31, 2026, representing $0.05 per share on an annualized basis. The dividend is payable on April 15, 2026 to the shareholders of record on March 31, 2026. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CA$1.02, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 8x in the Real Estate industry in Canada. Total returns to shareholders of 54% over the past three years. Declared Dividend • Dec 22
Third quarter dividend of CA$0.013 announced Dividend of CA$0.013 is the same as last year. Ex-date: 31st December 2025 Payment date: 15th January 2026 Dividend yield will be 6.0%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by both earnings (29% earnings payout ratio) and cash flows (55% cash payout ratio). The dividend has increased by an average of 26% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 9.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Dec 20
Urbanfund Corp. announces Quarterly dividend, payable on January 15, 2026 Urbanfund Corp. announced Quarterly dividend of CAD 0.0125 per share payable on January 15, 2026, ex-date on December 31, 2025 and record date on December 31, 2025. Reported Earnings • Nov 27
Third quarter 2025 earnings released: EPS: CA$0.041 (vs CA$0.028 in 3Q 2024) Third quarter 2025 results: EPS: CA$0.041 (up from CA$0.028 in 3Q 2024). Revenue: CA$3.10m (down 50% from 3Q 2024). Net income: CA$2.22m (up 47% from 3Q 2024). Profit margin: 72% (up from 25% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Declared Dividend • Sep 26
Second quarter dividend of CA$0.013 announced Dividend of CA$0.013 is the same as last year. Ex-date: 29th September 2025 Payment date: 15th October 2025 Dividend yield will be 6.0%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has increased by an average of 26% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 3.5% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Sep 23
Urbanfund Corp. Declares Dividend for the Three-Month Period Ended September 30, 2025, Payable on October 15, 2025 Urbanfund Corp. announced that the Board of Directors of the Company has declared a dividend of $0.0125 per common share for the three-month period ended September 30, 2025, representing $0.05 per share on an annualized basis. The dividend is payable on October 15, 2025 to the shareholders of record on September 30, 2025. Reported Earnings • Aug 28
Second quarter 2025 earnings released: EPS: CA$0.02 (vs CA$0.028 in 2Q 2024) Second quarter 2025 results: EPS: CA$0.02 (down from CA$0.028 in 2Q 2024). Revenue: CA$3.54m (down 64% from 2Q 2024). Net income: CA$1.07m (down 27% from 2Q 2024). Profit margin: 30% (up from 15% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 3% per year. Declared Dividend • Jun 25
First quarter dividend of CA$0.013 announced Dividend of CA$0.013 is the same as last year. Ex-date: 30th June 2025 Payment date: 15th July 2025 Dividend yield will be 5.9%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (25% cash payout ratio). The dividend has increased by an average of 26% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 1.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jun 21
Urbanfund Corp. Declares Dividend on Common Share for the Three-Month Period Ending June 30, 2025, Payable on July 15, 2025 Urbanfund Corp. announced that the Board of Directors of the company has declared a dividend of $0.0125 per common share for the three-month period ending June 30, 2025, representing $0.05 per share on an annualized basis. The dividend is payable on July 15, 2025 to the shareholders of record on June 30, 2025. New Risk • May 30
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 20% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (20% operating cash flow to total debt). Shares are highly illiquid. Minor Risk Market cap is less than US$100m (CA$44.6m market cap, or US$32.3m). New Risk • May 21
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: 37% Last year net profit margin: 54% 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 Risk Shares are highly illiquid. Minor Risks High level of debt (51% net debt to equity). Profit margins are more than 30% lower than last year (37% net profit margin). Market cap is less than US$100m (CA$44.6m market cap, or US$32.1m). Reported Earnings • May 02
Full year 2024 earnings released: EPS: CA$0.18 (vs CA$0.12 in FY 2023) Full year 2024 results: EPS: CA$0.18 (up from CA$0.12 in FY 2023). Net income: CA$9.72m (up 52% from FY 2023). 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 • Apr 21
Urbanfund Corp., Annual General Meeting, Jun 17, 2025 Urbanfund Corp., Annual General Meeting, Jun 17, 2025. Location: ontario, toronto Canada Declared Dividend • Mar 22
Third quarter dividend of CA$0.013 announced Dividend of CA$0.013 is the same as last year. Ex-date: 31st March 2025 Payment date: 15th April 2025 Dividend yield will be 6.3%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 26% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 4.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 19
Urbanfund Corp. Declares Dividend on Common Share for the Three-Month Period Ended March 31, 2025, Payable on April 15, 2025 Urbanfund Corp. declared a dividend of $0.0125 per common share for the three-month period ended March 31, 2025, representing $0.05 per share on an annualized basis. The dividend is payable on April 15, 2025 to the shareholders of record on March 31, 2025. Board Change • Feb 25
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. Independent Director Robert Barber was the last director to join the board, commencing their role in 2015. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Dec 29
Third quarter dividend of CA$0.013 announced Dividend of CA$0.013 is the same as last year. Ex-date: 31st December 2024 Payment date: 15th January 2025 Dividend yield will be 6.0%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 29% per year over the past 9 years and payments have been stable during that time. Earnings per share has grown by 4.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Declared Dividend • Dec 21
Third quarter dividend of CA$0.013 announced Dividend of CA$0.013 is the same as last year. Ex-date: 31st December 2024 Payment date: 15th January 2025 Dividend yield will be 5.7%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 29% per year over the past 9 years and payments have been stable during that time. Earnings per share has grown by 4.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Dec 18
Urbanfund Corp. Declares Dividend on Common Share for the Three-Month Period Ended December 31, 2024, Payable on January 15, 2025 Urbanfund Corp. announced that the Board of Directors of the Company has declared a dividend of $0.0125 per common share for the three-month period ended December 31, 2024, representing $0.05 per share on an annualized basis. The dividend is payable on January 15, 2025 to the shareholders of record on December 31, 2024. Reported Earnings • Nov 27
Third quarter 2024 earnings released: EPS: CA$0.028 (vs CA$0.017 in 3Q 2023) Third quarter 2024 results: EPS: CA$0.028 (up from CA$0.017 in 3Q 2023). Revenue: CA$5.56m (up 121% from 3Q 2023). Net income: CA$1.52m (up 68% from 3Q 2023). Profit margin: 27% (down from 36% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 10% per year. Declared Dividend • Sep 25
Second quarter dividend of CA$0.013 announced Dividend of CA$0.013 is the same as last year. Ex-date: 30th September 2024 Payment date: 15th October 2024 Dividend yield will be 6.0%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is well covered by both earnings (36% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 29% per year over the past 9 years and payments have been stable during that time. Earnings per share has grown by 8.5% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Sep 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Shares are highly illiquid. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (CA$42.8m market cap, or US$31.5m). Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: CA$0.028 (vs CA$0.02 in 2Q 2023) Second quarter 2024 results: EPS: CA$0.028 (up from CA$0.02 in 2Q 2023). Revenue: CA$9.21m (up 215% from 2Q 2023). Net income: CA$1.48m (up 40% from 2Q 2023). Profit margin: 16% (down from 36% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 11% per year. New Risk • Jul 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.3% This is considered a minor 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 Debt is not well covered by operating cash flow (7.3% operating cash flow to total debt). Shares are highly illiquid. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Market cap is less than US$100m (CA$43.9m market cap, or US$31.7m). Declared Dividend • Jun 27
First quarter dividend of CA$0.013 announced Dividend of CA$0.013 is the same as last year. Ex-date: 28th June 2024 Payment date: 15th July 2024 Dividend yield will be 6.2%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by both earnings (38% earnings payout ratio) and cash flows (57% cash payout ratio). The dividend has increased by an average of 29% per year over the past 9 years and payments have been stable during that time. Earnings per share has grown by 7.9% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jun 22
Urbanfund Corp. Declares Common Dividend for the Three-Months Ended June 30, 2024, Payable on July 15, 2024 Urbanfund Corp. declared a dividend of $0.0125 per common share for the three-month period ended June 30, 2024, representing $0.05 per share on an annualized basis. The dividend is payable on July 15, 2024 to the shareholders of record on June 28, 2024. New Risk • May 31
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.3% This is considered a minor 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 Debt is not well covered by operating cash flow (7.3% operating cash flow to total debt). Shares are highly illiquid. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Market cap is less than US$100m (CA$43.7m market cap, or US$32.0m). Reported Earnings • May 30
First quarter 2024 earnings released: EPS: CA$0.034 (vs CA$0.023 in 1Q 2023) First quarter 2024 results: EPS: CA$0.034 (up from CA$0.023 in 1Q 2023). Revenue: CA$4.04m (up 55% from 1Q 2023). Net income: CA$1.82m (up 49% from 1Q 2023). Profit margin: 45% (down from 47% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 8% per year. Reported Earnings • Apr 24
Full year 2023 earnings released: EPS: CA$0.12 (vs CA$0.14 in FY 2022) Full year 2023 results: EPS: CA$0.12 (down from CA$0.14 in FY 2022). Revenue: CA$8.64m (down 65% from FY 2022). Net income: CA$6.38m (down 13% from FY 2022). Profit margin: 74% (up from 30% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Apr 13
Urbanfund Corp., Annual General Meeting, Jun 17, 2024 Urbanfund Corp., Annual General Meeting, Jun 17, 2024. Agenda: Annual General and Special Meeting. Declared Dividend • Mar 22
Third quarter dividend of CA$0.013 announced Dividend of CA$0.013 is the same as last year. Ex-date: 27th March 2024 Payment date: 15th April 2024 Dividend yield will be 5.7%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (25% cash payout ratio). The dividend has increased by an average of 29% per year over the past 9 years and payments have been stable during that time. The company's earnings per share (EPS) would need to decline by 65% to shift the payout ratio to a potentially unsustainable range, which is more than the 2.1% EPS decline seen over the last 5 years. Board Change • Dec 22
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. Independent Director Robert Barber was the last director to join the board, commencing their role in 2015. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 19
Urbanfund Corp. Declares Common Dividend for the Three-Months Ending December 31, 2023, Payable on January 15, 2024 Urbanfund Corp. announced that the Board of Directors of the Company has declared a dividend of $0.0125 per common share for the three-month period ending December 31, 2023, representing $0.05 per share on an annualized basis. The dividend is payable on January 15, 2024 to the shareholders of record on December 29, 2023. New Risk • Dec 08
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.4% This is considered a minor 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 Risk Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (33% net profit margin). Shareholders have been diluted in the past year (2.4% increase in shares outstanding). Market cap is less than US$100m (CA$42.2m market cap, or US$31.1m). Reported Earnings • Dec 01
Third quarter 2023 earnings released: EPS: CA$0.017 (vs CA$0.014 in 3Q 2022) Third quarter 2023 results: EPS: CA$0.017 (up from CA$0.014 in 3Q 2022). Revenue: CA$2.16m (down 18% from 3Q 2022). Net income: CA$904.5k (up 23% from 3Q 2022). Profit margin: 42% (up from 28% in 3Q 2022). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Announcement • Sep 21
Urbanfund Corp. Declares Dividend for the Three-Month Period Ended September 30, 2023, Payable on October 16, 2023 Urbanfund Corp. has declared a dividend of $0.0125 per common share for the three-month period ended September 30, 2023, representing $0.05 per share on an annualized basis. The dividend is payable on October 16, 2023 to the shareholders of record on September 30, 2023. New Risk • Aug 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.4% This is considered a minor 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 Risk Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (32% net profit margin). Shareholders have been diluted in the past year (2.4% increase in shares outstanding). Market cap is less than US$100m (CA$50.5m market cap, or US$37.1m). Reported Earnings • Aug 25
Second quarter 2023 earnings released: EPS: CA$0.02 (vs CA$0.013 in 2Q 2022) Second quarter 2023 results: EPS: CA$0.02 (up from CA$0.013 in 2Q 2022). Revenue: CA$2.21m (down 7.4% from 2Q 2022). Net income: CA$1.06m (up 59% from 2Q 2022). Profit margin: 48% (up from 28% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 23
Urbanfund Corp. Announces Dividend on Common Shares, Payable on July 17, 2023 Urbanfund Corp. announced dividend of $0.0125 per common share. Payable Date is July 17, 2023. Record Date is June 30, 2023. Ex-dividend Date is June 29, 2023. Reported Earnings • May 27
First quarter 2023 earnings released: EPS: CA$0.023 (vs CA$0.017 in 1Q 2022) First quarter 2023 results: EPS: CA$0.023 (up from CA$0.017 in 1Q 2022). Revenue: CA$2.07m (down 20% from 1Q 2022). Net income: CA$1.22m (up 44% from 1Q 2022). Profit margin: 59% (up from 33% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 21
Full year 2022 earnings released: EPS: CA$0.14 (vs CA$0.20 in FY 2021) Full year 2022 results: EPS: CA$0.14 (down from CA$0.20 in FY 2021). Revenue: CA$23.8m (up 97% from FY 2021). Net income: CA$7.34m (down 29% from FY 2021). Profit margin: 31% (down from 85% in FY 2021). Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 10% per year. Upcoming Dividend • Dec 22
Upcoming dividend of CA$0.013 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 16 January 2023. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 5.9%. Lower than top quartile of Canadian dividend payers (6.0%). Higher than average of industry peers (1.1%). Announcement • Dec 15
Urbanfund Corp. Declares Dividend for the Three-Month Period Ended December 30, 2022, Payable on January 16, 2023 Urbanfund Corp. announced that the board of directors of the company has declared a dividend of $0.0125 per common share for the three-month period ended December 30, 2022. The dividend is payable on January 16, 2023 to the shareholders of record on December 31, 2022. Board Change • Dec 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. Independent Director Robert Barber was the last director to join the board, commencing their role in 2015. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 27
Third quarter 2022 earnings released: EPS: CA$0.014 (vs CA$0.045 in 3Q 2021) Third quarter 2022 results: EPS: CA$0.014 (down from CA$0.045 in 3Q 2021). Revenue: CA$2.18m (up 24% from 3Q 2021). Net income: CA$735.8k (down 68% from 3Q 2021). Profit margin: 34% (down from 131% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 8% per year. Board Change • Nov 18
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. Independent Director Robert Barber was the last director to join the board, commencing their role in 2015. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 20
Urbanfund Corp. Declares Dividend on Common Share for the Three-Month Period Ended September 30, 2022, Payable on October 17, 2022 Urbanfund Corp. announced that its Board of Directors has declared a dividend of $0.0125 per common share for the three-month period ended September 30, 2022, representing $0.05 per share on an annualized basis. The dividend is payable on October 17, 2022 to the shareholders of record on September 30, 2022. Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: CA$0.013 (vs CA$0.026 in 2Q 2021) Second quarter 2022 results: EPS: CA$0.013 (down from CA$0.026 in 2Q 2021). Revenue: CA$2.16m (flat on 2Q 2021). Net income: CA$662.8k (down 50% from 2Q 2021). Profit margin: 31% (down from 61% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Jun 21
Urbanfund Corp. Declares Dividend for the Three-Month Period Ended June 30, 2022, Payable on July 15, 2022 Mitchell Cohen, Chief Executive Officer and President of Urbanfund Corp. announced that the Board of Directors of the Company has declared a dividend of $0.0125 per common share for the three-month period ended June 30, 2022, representing $0.05 per share on an annualized basis. The dividend is payable on July 15, 2022 to the shareholders of record on June 30, 2022. Reported Earnings • May 27
First quarter 2022 earnings released: EPS: CA$0.017 (vs CA$0.029 in 1Q 2021) First quarter 2022 results: EPS: CA$0.017 (down from CA$0.029 in 1Q 2021). Revenue: CA$1.98m (up 8.6% from 1Q 2021). Net income: CA$846.8k (down 41% from 1Q 2021). Profit margin: 43% (down from 78% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 27
Full year 2021 earnings released: EPS: CA$0.20 (vs CA$0.17 in FY 2020) Full year 2021 results: EPS: CA$0.20 (up from CA$0.17 in FY 2020). Revenue: CA$12.1m (flat on FY 2020). Net income: CA$10.3m (up 29% from FY 2020). Profit margin: 85% (up from 66% in FY 2020). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. Independent Director Robert Barber was the last director to join the board, commencing their role in 2015. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 22
Full year 2021 earnings released: EPS: CA$0.20 (vs CA$0.17 in FY 2020) Full year 2021 results: EPS: CA$0.20 (up from CA$0.17 in FY 2020). Net income: CA$10.3m (up 29% from FY 2020). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Apr 22
Urbanfund Corp., Annual General Meeting, Jun 20, 2022 Urbanfund Corp., Annual General Meeting, Jun 20, 2022. Upcoming Dividend • Dec 23
Upcoming dividend of CA$0.013 per share Eligible shareholders must have bought the stock before 30 December 2021. Payment date: 17 January 2022. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 4.0%. Lower than top quartile of Canadian dividend payers (4.7%). Higher than average of industry peers (0.7%). Reported Earnings • Nov 28
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: EPS: CA$0.045 (up from CA$0.012 in 3Q 2020). Net income: CA$2.30m (up 293% from 3Q 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 19% per year. Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS CA$0.026 (vs CA$0.012 in 2Q 2020) Second quarter 2021 results: Net income: CA$1.32m (up 132% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 9% per year. Valuation Update With 7 Day Price Move • Jun 25
Investor sentiment improved over the past week After last week's 16% share price gain to CA$1.15, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 14x in the Real Estate industry in Canada. Total returns to shareholders of 74% over the past three years. Reported Earnings • May 30
First quarter 2021 earnings released: EPS CA$0.029 (vs CA$0.037 in 1Q 2020) First quarter 2021 results: Net income: CA$1.43m (down 19% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Reported Earnings • Apr 24
Full year 2020 earnings released: EPS CA$0.17 (vs CA$0.14 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: CA$10.2m (up 23% from FY 2019). Net income: CA$8.00m (up 23% from FY 2019). Profit margin: 79% (in line with FY 2019). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 06
New 90-day high: CA$0.82 The company is up 21% from its price of CA$0.68 on 26 November 2020. The Canadian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 8.0% over the same period. Is New 90 Day High Low • Jan 29
New 90-day high: CA$0.79 The company is up 14% from its price of CA$0.69 on 29 October 2020. The Canadian market is up 16% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is up 6.0% over the same period. Reported Earnings • Nov 22
Third quarter 2020 earnings released: EPS CA$0.012 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: CA$1.33m (down 7.6% from 3Q 2019). Net income: CA$584.4k (down 65% from 3Q 2019). Profit margin: 44% (down from 116% in 3Q 2019). The decrease in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Nov 13
Urbanfund Corp. (TSXV:UFC) and Westdale Construction Co. Ltd. acquired 110 unit The Manors Luxury Apartment Portfolio in Dartmouth, Nova Scotia for CAD 17 million. Urbanfund Corp. (TSXV:UFC) and Westdale Construction Co. Ltd. acquired 110 unit The Manors Luxury Apartment Portfolio in Dartmouth, Nova Scotia for CAD 17 million on November 12, 2020. Under the terms of transaction, Urbanfund will acquire 20% interest and Westdale will acquire remaining 80% interest of the portfolio. The purchase price was funded by a CAD 11.8 million mortgage and the balance by pro rata equity subscriptions from the Urbanfund and Westdale.
Urbanfund Corp. (TSXV:UFC) and Westdale Construction Co. Ltd. completed the acquisition of 110 unit The Manors Luxury Apartment Portfolio in Dartmouth, Nova Scotia on November 12, 2020. 
