True North Commercial REIT (TSE:TNT.UN) to Issue Monthly Dividend of $0.06

Key Points

• Declared monthly dividend: True North Commercial REIT announced a monthly distribution of C$0.0575 per unit with an ex-dividend date of April 30 and record/payment date of May 15, implying an annualized yield of about 8.3%.
• Weak recent financials and high leverage: The REIT reported a quarterly loss of C($1.15) EPS, a negative net margin of 38.96% and a debt-to-equity ratio of 175.73, while trading around C$8.35 with a market cap of C$117.5M.

True North Commercial REIT (TSE:TNT.UN - Get Free Report) declared a monthly dividend on Thursday, April 30th, TickerTech Dividends reports. Shareholders of record on Friday, May 15th will be given a dividend of 0.0575 per share on Friday, May 15th. This represents a c) annualized dividend and a yield of 8.3%. The ex-dividend date of this dividend is Thursday, April 30th.

True North Commercial REIT Stock Performance

Shares of TNT.UN stock opened at C$8.35 on Tuesday. The business's 50-day moving average price is C$8.31 and its 200-day moving average price is C$8.74. The company has a current ratio of 0.14, a quick ratio of 0.06 and a debt-to-equity ratio of 175.73. The firm has a market capitalization of C$117.46 million, a price-to-earnings ratio of -3.60 and a beta of 0.96. True North Commercial REIT has a 12 month low of C$7.99 and a 12 month high of C$9.70.

True North Commercial REIT (TSE:TNT.UN - Get Free Report) last posted its quarterly earnings data on Tuesday, March 17th. The company reported C($1.15) EPS for the quarter. The company had revenue of C$40.33 million during the quarter. True North Commercial REIT had a negative return on equity of 10.66% and a negative net margin of 38.96%.

True North Commercial REIT Company Profile

True North Commercial REIT is a Canadian-based open-ended Real estate investment trust company. It owns and acquires Canadian commercial real estate properties. Its objective is to maximize total returns to unitholders. Returns include a stable, reliable, and tax-efficient monthly cash distribution as well as long-term appreciation in the value of its units through the effective management of a portfolio of commercial properties. It has properties in Alberta, British Columbia, New Brunswick, Nova Scotia, and Ontario.

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