AFC Gamma Q2 2021 Earnings Report
Key Takeaways
AFC Gamma announced strong financial results for Q2 2021, with a net income of $4.6 million, or $0.34 per basic weighted average share, and distributable earnings of $5.8 million, or $0.43 per basic weighted average share.
Net income in Q2 2021 was $4.6 million, or earnings of $0.34 per basic weighted average share of common stock.
Distributable earnings in Q2 2021 was $5.8 million, or $0.43 per basic weighted average share of common stock.
Closed $71.3 million of new commitments in Q2 2021 and funded $77.8 million of new and existing commitments.
Paid a dividend of $0.38 per common share for Q2 2021.
AFC Gamma
AFC Gamma
Forward Guidance
The Board of Directors intends to declare a quarterly dividend for the third quarter of 2021 on or about September 15, 2021, payable on October 15, 2021 to common stockholders of record on September 30, 2021. The Company anticipates that the dividend relating to the third quarter of 2021 will be equal to or greater than the dividend of $0.38 per share of common stock that the Company paid in the second quarter of 2021.
Positive Outlook
- Company anticipates that the dividend relating to the third quarter of 2021 will be equal to or greater than the dividend of $0.38 per share of common stock that the Company paid in the second quarter of 2021.
- Increased access to capital.
- Strong balance sheet
- Best-in-class team
- Well positioned as a first mover and a leader in the rapidly growing cannabis lending market