Latest news with #Reinvestment
Hamilton Spectator
23-05-2025
- Business
- Hamilton Spectator
Timbercreek Financial Declares May 2025 Dividend
TORONTO, May 23, 2025 (GLOBE NEWSWIRE) — Timbercreek Financial (TSX: TF) (the 'Company') is pleased to announce that it has declared a monthly cash dividend of $0.0575 per common share ('Common Share') of the Company to be paid on June 13, 2025 to holders of Common Shares of record on May 30, 2025. The Company also offers a Dividend Reinvestment Plan (the 'Plan'), which is eligible to holders of Common Shares and provides a convenient means to purchase additional Common Shares by reinvesting cash dividends at a potential discount and without having to pay commissions, service charges or brokerage fees. Pursuant to the Plan and at the discretion of Timbercreek Capital Inc., the Manager, Common Shares will be acquired in the open market at prevailing prices or issued from treasury at 98 percent of the average market price (the 'Average Market Price') for the five trading day period ending on the third business day immediately prior to the dividend payment date (the 'Trading Period'). Common Shares acquired under the Plan will be automatically enrolled in the Plan. Shareholders who hold their Common Shares through a broker, financial institution or other nominee must enroll for distribution reinvestment through their nominee holder. The full text of the Plan can be obtained on the Company's website at About Timbercreek Financial Timbercreek Financial is a leading non-bank, commercial real estate lender providing shorter-duration, structured financing solutions to commercial real estate investors. Our sophisticated, service-oriented approach allows us to meet the needs of borrowers, including faster execution and more flexible terms that are not typically provided by Canadian financial institutions. By employing thorough underwriting, active management and strong governance, we are able to meet these needs while targeting strong risk-adjusted returns for investors. CONTACT: Timbercreek Financial Blair Tamblyn Chief Executive Officer btamblyn@ .
Yahoo
23-05-2025
- Business
- Yahoo
Timbercreek Financial Declares May 2025 Dividend
TORONTO, May 23, 2025 (GLOBE NEWSWIRE) -- Timbercreek Financial (TSX: TF) (the 'Company') is pleased to announce that it has declared a monthly cash dividend of $0.0575 per common share ('Common Share') of the Company to be paid on June 13, 2025 to holders of Common Shares of record on May 30, 2025. The Company also offers a Dividend Reinvestment Plan (the 'Plan'), which is eligible to holders of Common Shares and provides a convenient means to purchase additional Common Shares by reinvesting cash dividends at a potential discount and without having to pay commissions, service charges or brokerage fees. Pursuant to the Plan and at the discretion of Timbercreek Capital Inc., the Manager, Common Shares will be acquired in the open market at prevailing prices or issued from treasury at 98 percent of the average market price (the 'Average Market Price') for the five trading day period ending on the third business day immediately prior to the dividend payment date (the 'Trading Period'). Common Shares acquired under the Plan will be automatically enrolled in the Plan. Shareholders who hold their Common Shares through a broker, financial institution or other nominee must enroll for distribution reinvestment through their nominee holder. The full text of the Plan can be obtained on the Company's website at About Timbercreek Financial Timbercreek Financial is a leading non-bank, commercial real estate lender providing shorter-duration, structured financing solutions to commercial real estate investors. Our sophisticated, service-oriented approach allows us to meet the needs of borrowers, including faster execution and more flexible terms that are not typically provided by Canadian financial institutions. By employing thorough underwriting, active management and strong governance, we are able to meet these needs while targeting strong risk-adjusted returns for investors. CONTACT:Timbercreek FinancialBlair TamblynChief Executive Officerbtamblyn@
Yahoo
12-03-2025
- Business
- Yahoo
Developers struggle to get financing for First National Bank building downtown
YOUNGSTOWN, Ohio (WKBN) — The developers looking to renovate downtown Youngstown's tallest building are having trouble getting financing. Tuesday they showed up looking to the city for some help. Three men from New York City sat amongst Youngstown City Council's Community Planning and Economic Development Committee meeting, touting their plan to redevelop the First National Bank building downtown. 'This is a beautiful, beautiful building and it's an important part of Youngstown's history,' said Patrick Ciccone with FNB plan to spend $10 million renovating the 96-year-old building into apartments, condos and office space. They've secured historic tax credits of $2 million which must be used within 18 months but they're having trouble getting a loan. 'There is skepticism in the lending community at large about housing in downtown Youngstown, period, which I think is one of the hurdles we're trying to overcome,' Ciccone developers wanted the council's approval to make the building a Community Reinvestment Area, which would give them 12 to 15 years of no property tax on the increased value of the improvements they plan to make. 'It is very difficult to make it work without some form of support from the city,' said Ciccone. Councilman Julius Oliver was surprised they were having issues with financing. Oliver says downtown has improved. 'A major corporation moving its headquarters in Steelite into downtown Youngstown, securing an innovation center is a $26 million investment already,' Oliver said. Approving a Community Reinvestment Area will not cost Youngstown any money out of pocket which may be one reason no council member spoke against the idea. Councilman Mike Ray asked that the city administration draw up the legislation so the full council could approve it as quickly as possible. It was noted that the First National Bank building is currently only 40 percent occupied and the bank does plan to continue occupying the first floor. The developers could not say when the project would begin or when it would be finished. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
21-02-2025
- Business
- Yahoo
Allen commissioners consider expanding proposed CRA
Feb. 21—LIMA — As Allen County commissioners continue to consider the potential creation of a Community Reinvestment Area in parts of American and Sugar Creek Townships, the conversation has shifted to expanding the proposed tax exemption area beyond its original footprint. On Feb. 14, commissioners met with representatives from the Allen County Auditor's Office, Allen Economic Development Group and the Allen County Prosecutor's Office to discuss the creation of a CRA encompassing nearly 400 acres in the vicinity of North Cole Street and North West Street north of Irvin Road. This area would be designated for tax exemptions for building renovation and construction that can help spur economic development. The CRA is in the vicinity of a proposed data center, one that has been discussed and debated at multiple American Township trustees meetings. On Thursday, commissioners met again with Allen Economic Development Group President and CEO Cynthia Leis and John Willamowski Jr. from the prosecutor's office to continue the discussion, during which it was decided to expand the size of the CRA to cover 887 total acres bordered by North West Street to the east and north as state Route 115, Bluelick Road to the south and North Cole Street to the west. According to Commissioner Brian Winegardner, the expansion comes down to being proactive in putting the area in the best position for any future development. "It's a tool that we can use for the future," he said. "Declaring a CRA doesn't really lock you into anything specific. But it's a tool we can use for later expansion and development if need be in the future." The goal, Winegardner said, was originally to have a resolution on the CRA to put to a vote by Feb. 27, but the law pertaining to CRAs required that any structures within the area be surveyed prior to a CRA being established. "That's a pretty tight timeline if they're shooting for next Thursday to have that done and on our agenda," he said. "If that doesn't happen, it would go to the following Thursday, which is March 6." Winegardner emphasized that any CRA would not place any special obligations on property owners within the area, and it would not have an impact on property valuation. "It's not changing what they can or can't do with their property," he said. Featured Local Savings
Associated Press
05-02-2025
- Business
- Associated Press
Ares Management Corporation Reports Fourth Quarter and Full Year 2024 Results
Ares Management Corporation (NYSE:ARES) today reported its financial results for its fourth quarter and full year ended December 31, 2024. GAAP net income attributable to Ares Management Corporation was $177.3 million for the quarter ended December 31, 2024. On a basic and diluted basis, net income attributable to Ares Management Corporation per share of Class A and non-voting common stock was $0.72 for the quarter ended December 31, 2024. After-tax realized income was $434.7 million for the quarter ended December 31, 2024. After-tax realized income per share of Class A common stock was $1.23 for the quarter ended December 31, 2024. Fee related earnings were $396.2 million for the quarter ended December 31, 2024. 'During 2024, we set many financial records, including our best year ever in gross fundraising and capital deployed. We raised $93 billion of new funds in 2024 and ended the year with $484 billion of AUM,' said Michael Arougheti, Chief Executive Officer of Ares. 'We continued to expand our investment platform, diversify our distribution channels across institutional, wealth and insurance and generate compelling investment performance for our investors. As we head into 2025, we are optimistic that we are entering into a more active transaction environment which should create more investment opportunities for our platform.' 'With a record $95 billion of assets under management not yet paying fees, we are well positioned to invest opportunistically across a broad range of our strategies for investors and to drive continued strong growth in our key financial metrics over the next several years,' said Jarrod Phillips, Chief Financial Officer of Ares. 'We are making excellent progress on GCP International and we now expect the transaction will close in the first quarter. We believe the GCP International business we are acquiring is well positioned and we expect progress on a number of new fundraising initiatives this year.' Common Stock Dividend Ares declared a quarterly dividend of $1.12 per share of its Class A and non-voting common stock, payable on March 31, 2025 to its Class A and non-voting common stockholders of record at the close of business on March 17, 2025. Preferred Stock Dividend Ares declared a quarterly dividend of $0.84375 per share of its 6.75% Series B mandatory convertible preferred stock, payable on April 1, 2025 to its preferred stockholders of record at the close of business on March 15, 2025. Dividend Reinvestment Program Ares has a Dividend Reinvestment Program for its Class A common stockholders that will be effective for the quarterly dividend on March 31, 2025. Equiniti Trust Company is engaged to administer the plan on behalf of Ares. Additional information can be located on the Investor Resources section of our website. Additional Information Ares issued a full detailed presentation of its fourth quarter and full year 2024 results, which can be viewed at on the Investor Resources section of our home page under Events and Presentations. The presentation is titled 'Fourth Quarter and Full Year 2024 Earnings Presentation.' 2025 Annual Stockholders Meeting The Board of Directors set April 7, 2025 as the record date for Ares' 2025 Annual Meeting of Stockholders. The 2025 Annual Meeting of Stockholders will be held on June 6, 2025. Conference Call and Webcast Information Ares will host a conference call on February 5, 2025 at 10:00 a.m. (Eastern Time) to discuss fourth quarter and full year results. All interested parties are invited to participate via telephone or the live webcast, which will be hosted on a webcast link located on the Home page of the Investor Resources section of our website at Please visit the website to test your connection before the webcast. Domestic callers can access the conference call by dialing +1 (800) 343-5172. International callers can access the conference call by dialing +1 (203) 518-9856. All callers are asked to dial in 10-15 minutes prior to the call so that name and company information can be collected and to reference the conference ID ARESQ424. For interested parties, an archived replay of the call will be available through March 5, 2025 to domestic callers by dialing +1 (800) 839-2475 and to international callers by dialing +1 (402) 220-7220. An archived replay will also be available through March 5, 2025 on a webcast link located on the Home page of the Investor Resources section of our website. About Ares Management Corporation Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of December 31, 2024, Ares Management Corporation's global platform had over $484 billion of assets under management, with operations across North America, Europe, Asia Pacific and the Middle East. For more information, please visit Forward-Looking Statements Statements included herein contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the 'Securities Act'), and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'), which reflect our current views with respect to, among other things, future events, operations and financial performance. You can identify these forward-looking statements by the use of forward-looking words such as 'outlook,' 'believes,' 'expects,' 'potential,' 'continues,' 'may,' 'will,' 'should,' 'seeks,' 'predicts,' 'intends,' 'plans,' 'estimates,' 'anticipates,' 'foresees' or negative versions of those words, other comparable words or other statements that do not relate to historical or factual matters. The forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account all information currently available to us. Such forward-looking statements are subject to various risks and uncertainties and assumptions relating to our operations, financial results, financial condition, business prospects, growth strategy and liquidity. Actual results may vary materially from those indicated in these forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission. Ares Management Corporation does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. Nothing in this press release constitutes an offer to sell or solicitation of an offer to buy any securities of Ares or an investment fund managed by Ares or its affiliates. Greg Mason Copyright Business Wire 2025. PUB: 02/05/2025 06:05 AM/DISC: 02/05/2025 06:04 AM
