20:47:08 EDT Wed 15 May 2024
Enter Symbol
or Name
USA
CA



Timbercreek Financial Corp
Symbol TF
Shares Issued 83,342,116
Close 2023-12-18 C$ 6.62
Market Cap C$ 551,724,808
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Globe admits it got Timbercreek's numbers wrong

2023-12-19 08:33 ET - In the News

The Globe and Mail reports in its Tuesday edition that dividend growth rates published in third party sites are not always 100 per cent accurate, and Timbercreek Financial is a case in point. Globe columnist John Heinzl writes that The Globe's financial website shows Timbercreek as having 15-per-cent dividend growth. However, if you visit the investor relations section of the company's website and call up its "Dividend History," you will see that the monthly payout has not changed since at least 2017. So the true five-year growth rate is zero, not 15 per cent. It is not just The Globe that got this one wrong. Mr. Heinzl also checked TMX Money and Morningstar (which provides dividend growth data to The Globe) and found similar mistakes. That is why it is best to go directly to the source instead of relying on third party websites for financial data. Another thing you would not know about Timbercreek without checking its website: Its "dividends" are actually 100-per-cent interest (with a tiny amount of capital gains in 2018). Interest distributions are taxed at one's full marginal rate in a non-registered account and do not qualify for the dividend tax credit. That could be a deal-breaker for some investors.

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