Recent Insider Transactions • May 27
Insider recently sold €530k worth of stock On the 26th of May, Geoff Willis sold around 100k shares on-market at roughly €5.30 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 €595k more than they bought in the last 12 months. Declared Dividend • May 22
First quarter dividend of CA$0.05 announced Shareholders will receive a dividend of CA$0.05. Ex-date: 1st June 2026 Payment date: 15th June 2026 Dividend yield will be 2.2%, which is lower than the industry average of 6.4%. 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. Board Change • May 20
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. 6 highly experienced directors. Lead Independent Director Trevor Bruno was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. 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 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. 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. 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. 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. 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 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. 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 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 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. 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. 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. Reported Earnings • Nov 08
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 13% growth forecast for the Diversified Financial industry in Germany. 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 24% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to €3.32, the stock trades at a trailing P/E ratio of 23.8x. Average forward P/E is 11x in the Diversified Financial industry in Germany. Total returns to shareholders of 71% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €2.10 per share. Declared Dividend • Aug 26
Second quarter dividend of CA$0.03 announced Shareholders will receive a dividend of CA$0.03. Ex-date: 30th August 2024 Payment date: 16th September 2024 Dividend yield will be 3.5%, which is lower than the industry average of 6.4%. 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 14% growth forecast for the Diversified Financial industry in Germany. 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 4% per year, which means it is significantly lagging earnings growth. 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 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €2.60, the stock trades at a trailing P/E ratio of 68.4x. Average forward P/E is 12x in the Diversified Financial industry in Germany. Total returns to shareholders of 19% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.76 per share. Recent Insider Transactions • Jun 20
Insider recently sold €101k worth of stock On the 18th of June, Geoff Willis sold around 41k shares on-market at roughly €2.45 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 €164k more than they bought in the last 12 months. Declared Dividend • May 27
First quarter dividend of CA$0.03 announced Shareholders will receive a dividend of CA$0.03. Ex-date: 31st May 2024 Payment date: 14th June 2024 Dividend yield will be 4.1%, which is lower than the industry average of 6.4%. 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 €2.38, the stock trades at a trailing P/E ratio of 65.3x. Average forward P/E is 11x in the Diversified Financial industry in Germany. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.63 per share. Reported Earnings • May 09
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 12% growth forecast for the Diversified Financial industry in Germany. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. 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 New Risk • Mar 20
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 45% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.4x net interest cover). Dividend is not well covered by earnings and cash flows. Dividend per share is over 10x earnings per share. Cash payout ratio: 110% Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.1% net profit margin). Market cap is less than US$100m (€86.7m market cap, or US$94.0m). 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 12% growth forecast for the Diversified Financial industry in Germany. 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 11% 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 Shareholders will receive a dividend of CA$0.03. Ex-date: 29th February 2024 Payment date: 15th March 2024 Dividend yield will be 4.8%, which is lower than the industry average of 6.4%. 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. 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 major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 9.5% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. 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). Share price has been highly volatile over the past 3 months (9.5% average weekly change). 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 (€79.3m market cap, or US$84.6m). Reported Earnings • Nov 09
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 10% growth forecast for the Diversified Financial industry in Germany. 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 1% per year. 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 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €1.47, the stock trades at a trailing P/E ratio of 4.3x. Average forward P/E is 11x in the Diversified Financial industry in Germany. Total returns to shareholders of 71% over the past three years. 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. New Risk • Aug 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (4.3% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (€68.9m market cap, or US$74.9m). 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 8.2% growth forecast for the Diversified Financial industry in Germany. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 20% 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 • Jun 27
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be €1.89, 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%. Within top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.7%). 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 8.9% growth forecast for the Diversified Financial industry in Germany. 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 51% per year, which means it is well ahead of earnings. Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: CA$0.25 (vs CA$0.12 loss in FY 2021) Full year 2022 results: EPS: CA$0.25 (up from CA$0.12 loss in FY 2021). 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). Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Diversified Financial industry in Germany. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 53% per year, which means it is well ahead of earnings. 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 German dividend payers (4.6%). Lower than average of industry peers (5.7%). 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 17
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €2.12, the stock trades at a trailing P/E ratio of 19.6x. Average forward P/E is 10x in the Mortgage industry in Europe. Total returns to shareholders of 161% 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 German dividend payers (4.9%). Lower than average of industry peers (6.5%). 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 6.5% growth forecast for the Mortgage industry in Europe. 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 41% per year, which means it is well ahead of earnings. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Director Trevor Bruno was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 12
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 3.1% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Mortgage industry in Europe. 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 39% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 24
Upcoming dividend of CA$0.03 per share Eligible shareholders must have bought the stock before 31 August 2022. Payment date: 15 September 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (5.5%). Reported Earnings • Aug 12
Second quarter 2022 earnings released: EPS: CA$0.14 (vs CA$0.004 in 2Q 2021) Second quarter 2022 results: EPS: CA$0.14 (up from CA$0.004 in 2Q 2021). Revenue: CA$21.8m (up 2.4% from 2Q 2021). Net income: CA$6.70m (up CA$6.50m from 2Q 2021). Profit margin: 31% (up from 1.0% in 2Q 2021). The increase in margin was primarily driven by lower expenses. Over the next year, revenue is forecast to grow 7.2%, compared to a 12% growth forecast for the industry in Germany. 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 43% per year, which means it is well ahead of earnings. Recent Insider Transactions • Jul 01
Co-President recently bought €252k worth of stock On the 29th of June, Edward Cocciollo bought around 100k shares on-market at roughly €2.52 per share. This was the largest purchase by an insider in the last 3 months. Edward has been a buyer over the last 12 months, purchasing a net total of €292k worth in shares. Upcoming Dividend • May 24
Upcoming dividend of CA$0.03 per share Eligible shareholders must have bought the stock before 31 May 2022. Payment date: 15 June 2022. The company last paid an ordinary dividend in November 2016. The average dividend yield among industry peers is 2.8%. Reported Earnings • May 13
First quarter 2022 earnings released: CA$0.50 loss per share (vs CA$0.01 loss in 1Q 2021) First quarter 2022 results: CA$0.50 loss per share (down from CA$0.01 loss in 1Q 2021). Revenue: CA$17.0m (up 23% from 1Q 2021). Net loss: CA$22.7m (loss widened CA$22.2m from 1Q 2021). Over the next year, revenue is forecast to grow 7.0% compared to a 7.8% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Director Trevor Bruno was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 31
Full year 2021 earnings released: CA$0.12 loss per share (vs CA$0.48 profit in FY 2020) Full year 2021 results: CA$0.12 loss per share (down from CA$0.48 profit in FY 2020). Revenue: CA$78.8m (up 50% from FY 2020). Net loss: CA$5.51m (down 130% from profit in FY 2020). Over the next year, revenue is forecast to grow 4.2% compared to a 7.4% decline forecast for the funds industry in Germany. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 53% per year, which means it is significantly lagging earnings growth. Announcement • Feb 08
Dominion Lending Centres Inc. Provides Earnings Guidance for the Year Ended December 31, 2021 Dominion Lending Centres Inc. provided earnings guidance for the year ended December 31, 2021. For the year, the company expects to be between $78.0 million and $80.0 million. Announcement • Feb 03
Dominion Lending Centres Inc.(TSXV:DLCG) dropped from S&P/TSX Venture Composite Index Dominion Lending Centres Inc.(TSXV:DLCG) dropped from S&P/TSX Venture Composite Index Board Change • Dec 06
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Director Trevor Bruno was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 30
Dominion Lending Centres Inc. (TSXV:DLCG) announces an Equity Buyback for 3,000,000 shares, representing 6.5% for CAD 11.25 million. Dominion Lending Centres Inc. (TSXV:DLCG) announces a share repurchase program. Under the substantial issuer bid, the company will repurchase up to 3,000,000 shares, representing approximately 6.5% of its outstanding share capital at a purchase price of CAD 3.75 per share, for CAD 11.25 million. All the repurchased shares under the bid will be cancelled. The bid will be funded from the cash on hand or available credit facilities. If more than 3,000,000 shares are properly tendered to the offer, the company will take-up and pay for the tendered shares on a pro-rata basis according to the number of Shares tendered, except that "odd lot" tenders (of holders beneficially owning fewer than 100 Shares) will not be subject to pro-ration. The bid will expire on January 11, 2022, unless terminated or extended by the company. Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment improved over the past week After last week's 21% share price gain to €2.50, the stock trades at a trailing P/E ratio of 9.3x. Average forward P/E is 18x in the Capital Markets industry in Germany. Total returns to shareholders of 190% over the past three years. Reported Earnings • Aug 24
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CA$21.3m (up 42% from 2Q 2020). Net income: CA$203.0k (up CA$900.0k from 2Q 2020). Profit margin: 1.0% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Jun 25
Independent Director recently bought €109k worth of stock On the 17th of June, J. R. Ward bought around 44k shares on-market at roughly €2.48 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €147k more in shares than they have sold in the last 12 months. Announcement • Jun 25
Dominion Lending Centres Inc. Launches First Responder Mortgage Program Dominion Lending Centres Inc. announced that it is launching a First Responder Mortgage Program effective June 23, 2021 at Dominion Lending Centres. The First Responder Program is available to First Responders across Canada and provides both competitive rates and cashback incentives (subject to credit qualification). The quick and easy online application process allows police officers, paramedics, firefighters, correctional service officers, border services officials, search and rescue personnel and registered physicians and nurses to connect with a mortgage professional in their area at their convenience, in as little as 15 minutes. Reported Earnings • May 27
First quarter 2021 earnings released: CA$0.01 loss per share (vs CA$0.058 loss in 1Q 2020) The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were weaker. First quarter 2021 results: Revenue: CA$13.9m (down 23% from 1Q 2020). Net loss: CA$486.0k (loss narrowed 78% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Mar 06
New 90-day high: €2.40 The company is up 28% from its price of €1.87 on 04 December 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 10.0% over the same period. Announcement • Jan 06
Dominion Lending Centres Inc. Announces the Appointment of Gary Mauris as Chief Executive Officer Dominion Lending Centres Inc. announced effective January 1, 2021, the Corporation completed the following management changes: Gary Mauris became the Chief Executive Officer and Executive Chairman. Announcement • Jan 05
Founders Advantage Capital Corp. Announces Executive Changes Founders Advantage Capital Corp. announced effective January 1, 2021, the Corporation completed the following management changes: Gary Mauris became the Chief Executive Officer and Executive Chairman; Chris Kayat became the Executive Vice-Chairman; James Bell (current President of FAC) and Eddy Cocciollo (current President of Dominion Lending Centres Inc.) were each appointed co-President of the Corporation. Mr. Bell will be responsible for public company operations and management of non-core assets while Mr. Cocciollo will be responsible for DLC mortgage origination operations. Robin Burpee (current Chief Financial Officer of FAC) and Geoff Hague (current Chief Financial Officer of Dominion Lending Centres Inc.) were appointed co-Chief Financial Officer of the Corporation. Ms. Burpee will be responsible for public company and non-core asset financial management while Mr. Hague will be responsible for financial management of the mortgage origination operations. There were no changes to the Corporation's Board of Directors. The Corporation's Board of Directors includes: Gary Mauris, Chris Kayat, James Bell, Trevor Bruno, Ron Gratton, Dennis Sykora and Kingsley Ward. Is New 90 Day High Low • Jan 05
New 90-day high: €1.97 The company is up 114% from its price of €0.92 on 07 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 5.0% over the same period. Is New 90 Day High Low • Dec 18
New 90-day high: €1.95 The company is up 153% from its price of €0.77 on 18 September 2020. The German market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 7.0% over the same period. Recent Insider Transactions • Dec 18
President recently bought €64k worth of stock On the 16th of December, James Geral Bell bought around 34k shares on-market at roughly €1.89 per share. This was the largest purchase by an insider in the last 3 months. James Geral has been a buyer over the last 12 months, purchasing a net total of €80k worth in shares. Reported Earnings • Nov 25
Third quarter 2020 earnings released: EPS CA$0.05 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: CA$25.5m (up 9.8% from 3Q 2019). Net income: CA$2.08m (up CA$5.16m from 3Q 2019). Profit margin: 8.2% (up from net loss in 3Q 2019). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Nov 11
New 90-day high: €1.33 The company is up 48% from its price of €0.90 on 13 August 2020. The German market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is down 6.0% over the same period. Is New 90 Day High Low • Oct 21
New 90-day high: €1.21 The company is up 114% from its price of €0.56 on 23 July 2020. The German market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is down 10.0% over the same period. Announcement • Oct 16
Founders Advantage Capital Corp. Enters into A Franchise Agreement with Premiere Mortgage Centre Inc Founders Advantage Capital Corp. announced that Mortgage Centre Canada has entered into a franchise agreement with Premiere Mortgage Centre Inc. (“Premiere”). Premiere has over 180 mortgage professionals throughout offices across Ontario and Atlantic Canada. In fiscal 2019, Premiere originated $2.2 billion in funded mortgages representing approx. 5% anticipated growth for DLCG’s overall annual mortgage origination volume. 
