Atrium Mortgage Investment Corporation Announces a Strong Start to 2026 and Declares Dividends for the Third Quarter of 2026

Toronto, Ontario--(Newsfile Corp. - May 7, 2026) - Atrium Mortgage Investment Corporation (TSX: AI) (TSX: AI.DB.F) (TSX: AI.DB.G) today released its financial results for the three months ended March 31, 2026. Q1 2026 Highlights Quarterly net income of $12.0 million, compared to $11.9 million in the prior year Quarterly basic and diluted earnings per share of $0.25 Mortgage portfolio of $896.2 million Well-secured mortgage portfolio 95.3% of the portfolio in first mortgages 91.0% of the portfolio is less than 75% loan-to-value Average loan-to-value is 61.4% "Atrium's first quarter of 2026 reflects our continued discipline in underwriting new loans and in managing the existing portfolio. Despite a challenging lending environment, we earned basic and diluted earnings per share of $0.25 per share for the quarter, identical with the prior year and supportive of our regular dividend of $0.23 per share for the quarter. Our mortgage portfolio continues to be high quality and totalled $896.2 million as at March 31, 2026, down modestly from $917.1 million at year end. We have maintained a conservative risk profile with 95.3% of our portfolio invested in first mortgages and an average loan-to-value of 61.4%. In Q1, we recruited an experienced and well-known non-bank lender to open a new Atrium office in Alberta to cover the Prairie markets. Over the balance of 2026, we expect new loan originations in the Prairie markets to contribute to increased geographic diversification of our portfolio. Atrium is celebrating its 25th anniversary in 2026, and our success over that period reflects the experience and dedication of our senior management team that has delivered consistently attractive returns for our shareholders," said Rob Goodall, CEO of Atrium. Conference call Interested parties are invited to participate in a conference call with management on Friday, May 8, 2026 at 9:00 a.m. ET to discuss the results. To participate or listen to the conference call live, please call 1-833-491-0507 (call topic: First quarter results). For a replay of the conference call (available until May 20, 2026) please call 1-833-607-0619, passcode 9671642#. Results of operations Atrium reported assets of $872.0 million as at March 31, 2026, down from $893.6 million at the end of 2025. Revenues for the three months ended March 31, 2026 were $19.8 million, a decrease of 9.7% from the comparative quarter in the prior year. Net income for the first quarter of 2026 was $12.0 million, an increase of 1.0% from the first quarter of the prior year. Atrium's allowance for mortgage losses at March 31, 2026 totaled $31.1 million or 3.5% of the gross mortgage portfolio. For the three months ended March 31, 2026 , basic and diluted earnings per common share were $0.25, consistent with $0.25 for the three months ended March 31, 2025. Mortgages receivable as at March 31, 2026 were $870.8 million, down from $892.5 million as at December 31, 2025. This was due to mortgage interest and principal repayments exceeding advances as well as a higher allowance for mortgage losses. During the three months ended March 31, 2026, $44.8 million of mortgage principal was advanced and $64.5 million was repaid and transferred. The weighted average interest rate on the mortgage portfolio at March 31, 2026 was 8.86%, compared to 8.98% at December 31, 2025. Consolidated Statements of Income and Comprehensive Income (Unaudited, 000s, except per share amounts) Three months ended  March 31, 2026 2025 Revenue $ 19,836 $ 21,963 Mortgage servicing and management fees (2,158 ) (2,176 ) Other expenses (520 ) (351 ) Provision for credit losses (651 ) (2,161 ) Income before financing costs 16,507 17,275 Financing costs (4,492 ) (5,374 ) Net income and comprehensive income $ 12,015 $ 11,901     Basic earnings per share $ 0.25 $ 0.25 Diluted earnings per share $ 0.25 $ 0.25     Dividends declared $ 11,170 $ 10,995     Mortgages receivable, end of period $ 870,778 $ 851,615 Total assets, end of period $ 872,003 $ 852,848 Shareholders' equity, end of period $ 528,405 $ 520,460 Book value per share, end of period $ 10.98 $ 10.98   Mortgage portfolio (carrying amounts in 000s) As at March 31, 2026 As at December 31, 2025 Carrying % of Carrying % of Property Type Number amount Portfolio Number amount Portfolio High-rise residential 18 $ 244,005 27.2% 18 $ 245,843 26.8% Mid-rise residential 11 87,602 9.8% 13 103,088 11.3% Low-rise residential 13 123,205 13.8% 13 127,504 13.9% House and apartment 259 180,300 20.1% 251 176,254 19.2% Condominium corporation 4 1,058 0.1% 4 1,091 0.1% Residential portfolio 305 636,170 71.0% 299 653,780 71.3% Commercial 27 260,059 29.0% 27 263,294 28.7% Mortgage portfolio 332 $ 896,229 100.0% 326 $ 917,074 100.0%   As at March 31, 2026 Location of underlying property Number of mortgages Carrying amount % of Portfolio Weighted average loan-to-value Weighted average interest rate Greater Toronto Area ("GTA") 259 $ 783,674 87.4% 60.5% 8.82% Non-GTA Ontario 61 66,026 7.4% 64.0% 8.21% British Columbia 12 46,529 5.2% 72.3% 10.46% 332 $ 896,229 100.0% 61.4% 8.86%   As at December 31, 2025 Location of underlying property Number of mortgages Carrying amount % of Portfolio Weighted average loan-to-value Weighted average interest rate GTA 249 $ 793,802 86.6% 60.5% 8.95% Non-GTA Ontario 63 67,210 7.3% 64.0% 8.23% British Columbia 14 56,062 6.1% 69.9% 10.29% 326 $ 917,074 100.0% 61.4% 8.98%   For further information on the financial results, further analysis of the company's mortgage portfolio, and definitions of non-IFRS measures, please refer to Atrium's interim condensed consolidated financial statements and its management's discussion and analysis for the three months ended March 31, 2026, available on SEDAR+ at www.sedarplus.ca, and on the company's website at www.atriummic.com. 2026 Third Quarter Dividends Atrium is pleased to announce that the Board of Directors has declared a monthly cash dividend of $0.0775 per common share (subject to rescission or adjustment at the discretion of the Board of Directors) payable on each dividend payment date listed below to shareholders of record at the close of business on the corresponding record date: Dividend Month Record Date Dividend Payment Date July 2026 July 31, 2026 August 12, 2026 August 2026 August 31, 2026 September 11, 2026 September 2026 September 30, 2026 October 9, 2026   About Atrium Canada's Premier Non-Bank Lender™ Atrium is a non-bank provider of residential and commercial mortgages that lends in major urban centres in Canada where the stability and liquidity of real estate are high. Atrium's objectives are to provide its shareholders with stable and secure dividends and preserve shareholders' equity by lending within conservative risk parameters. Atrium is a Mortgage Investment Corporation ("MIC") as defined in the Canada Income Tax Act, so is not taxed on income provided that its taxable income is paid to its shareholders in the form of dividends within 90 days after December 31 each year. Such dividends are generally treated by shareholders as interest income, so that each shareholder is in the same position as if the mortgage investments made by the company had been made directly by the shareholder. For further information about Atrium, please refer to regulatory filings available at www.sedarplus.ca or investor information on Atrium's website at www.atriummic.com. For additional information, please contact Robert G. Goodall Chief Executive Officer Chris Anastasopoulos Chief Financial Officer (416) 867-1053 [email protected] www.atriummic.com To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296583