News
• We distributed $0.20 per share to our Class A public shareholders, maintaining our consistent track record of meeting our distribution target every quarter since our inception over 10 years ago.
• Subsequent to the quarter-end, we distributed $0.40 per share to our Class B shareholders based on Q3 2024 earnings. This provided an annualized 16% return on the original $10.00 share issue price.
• We achieved our second-highest gross income to date of $1,257,830, reflecting strong performance and continued business resilience.
• Earnings per share remained steady compared to Q2 2024 at $0.26.
• Operating expenses (excluding interest and funds set aside for potential loan losses) were within expectations at 8.7% of revenues.
• Consistent with our strategic goals, we have continued to shift a greater portion of our loans to Alberta. During the quarter, the percentage of loans in Alberta increased from 54% to 64%. This trend is driven by continuing affordability constraints in British Columbia.
• We slightly missed our target weighted average loan-to-value ratio on our mortgage portfolio of 75% by 2%, consistent with the prior quarter. We are pleased to note that this ratio has remained stable at 77% and has not increased quarter over quarter.
News
This article discusses the company’s strategy to address a tightening Western Canadian housing market by maintaining geographic diversity, targeting strong market segments, and leveraging growth opportunities driven by Alberta’s rising rental demand.
Builders Capital targets short-term construction mortgages on development-stage residential properties, prioritizing quality, regulatory compliance, and strategic focus on less volatile urban markets in Western Canada.
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