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Timbercreek Financial Q2 Net Earnings Decline

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Timbercreek Financial (TF.TO) Thursday said Q2 net earnings dropped to C$0.09 per share, from C$0.15, year over year.

The result missed the consensus analyst expectation of C$0.17 per share, according to FactSet.

The commercial real-estate lender said net investment income edged down to C$24.9 million, from C$25.2 million over the same period, and missed the C$25.9 million expected.

The company will pay a monthly cash dividend of $0.0575 per share for the third and fourth quarter.

Timbercreek shares closed down C$0.05, or 0.8%, to C$6.23 on the Toronto Stock Exchange.

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