Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
---|
Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
---|
Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
---|
Cannabis-focused commercial real estate finance company AFC Gamma Inc. (NASDAQ:AFCG) announced on Thursday its results for the fourth quarter and year ended Dec. 31, 2023.
The company reported net interest income of $64.2 million in fiscal 2023, compared to $74.7 million in fiscal 2022. Net interest income for the fourth quarter totaled roughly $16 million.
"AFC Gamma has made significant progress on portfolio management initiatives in the fourth quarter and into 2024 in spite of a challenging cannabis backdrop," Daniel Neville, who assumed the role of the company's CEO this past October.
AFC Gamma said on Dec. 15, distributed $9.8 million in dividends, its board of directors declared a regular cash dividend of $0.48 per common share for the fourth quarter of 2023, during which it distributed $9.8 million in dividends.
For the full year 2023, the company distributed $40.9 million in dividends or $2 per common share.
On March 4, the board declared a regular cash dividend of $0.48 per common share for the first quarter of 2024. The first quarter 2024 dividend will be payable on April 15, 2024, to common shareholders of record as of March 31, 2024.
"Looking ahead to 2024, we are excited to return to being a pure-play cannabis lender following the completion of the spin-off of our commercial real estate portfolio," Neville said. "We continue to see lending opportunities with the emergence of Cannabis 3.0 operators that have clean capital stacks and are looking to build or expand. As an early mover and one of the leading debt providers in the cannabis industry, AFC Gamma is uniquely positioned to capitalize on these opportunities and deploy capital at attractive risk-adjusted returns."
AFC Gamma's shares traded 0.09% lower at $11.38 per share at the time of writing on Thursday morning.
The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.
Get your tickets now on bzcannabis.com – Prices will increase very soon!
Posted In: AFCG