AFC Gamma Net Income Grows 6.9% YoY, What About Dividend Payments?
Portfolio Pulse from Vuk Zdinjak
AFC Gamma, Inc. (NASDAQ:AFCG) reported a 6.9% YoY increase in net income for Q2 2023, reaching $12.1 million. However, distributable earnings decreased by 27.3% to $9.9 million. The company paid a regular cash dividend of $0.48 per common share for Q2 2023, distributing $9.8 million in dividends. The company also made a new cannabis investment post the quarter end.
August 08, 2023 | 1:20 pm
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NEUTRAL IMPACT
AFC Gamma's Q2 2023 results show a mixed picture with increased net income but decreased distributable earnings. The company continues to pay dividends and has made a new investment in the cannabis sector.
AFC Gamma's net income has increased YoY, which is a positive sign. However, the decrease in distributable earnings could be a concern for investors. The company's dividend payments and new cannabis investment indicate a proactive approach to capital allocation, which could be seen positively by the market. Overall, the impact on the stock is neutral in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100