- Dominion Lending Centres Inc (TSX: DLCG) is a British Columbia-based mortgage firm that recently graduated to the Toronto Stock Exchange (TSX) and commenced trading its Class A shares on February 3.
- Founded in 2006, the financial service company is said to have an extensive network of more than 7,500 agents across Canada.
- DLCG stock surged by about 13 per cent in the past six months.
Dominion Lending Centres Inc (TSX: DLCG) is a British Columbia-based mortgage firm that recently graduated to the Toronto Stock Exchange (TSX). Previously listed on the Toronto Stock Exchange Venture (TSXV), it commenced trading its Class A shares on the TSX on February 3.
Founded in 2006, the financial service company is said to have an extensive network of more than 7,500 agents across Canada.
Today, let us talk about Dominion Lending Centres.
Financial overview of Dominion Lending Centres (TSX: DLCG)
In addition, Dominion Lending Centres also provided preliminary results for fiscal 2021 on February 7.
The mortgage company projected its 2021 revenue to range between C$ 78 million to C$ 80 million, up from C$ 52.4 million in 2020.
Dominion Lending said that it expects its adjusted EBITDA from Core Business Operations to be between C$ 46 and C$ 48 million in FY2021, while that from Non-Core Business Asset Management stands at a loss of about C$ 3 to C$ 3.5 million.
Consequently, it expects a consolidated adjusted EBITDA of about C$ 43 to C$ 44.5 million in 2021, up from C$ 52.4 recorded a year ago.
Dominion Lending Centres’ stock performance
DLCG stock surged by about 13 per cent in the past six months and closed at C$ 3.55 apiece on Friday, March 25. It is currently up by over 26 per cent from a 52-week low of C$ 2.81 (November 9, 2021).
Gary Mauris, the executive Chairperson and CEO of the company, commented that with its 2021 funded mortgage volume growing by 52 per cent YoY and 88 per cent up from 2019, DLCG became the “largest” mortgage broker in the country.
However, investors should be careful about market dynamics and factors that could impact the financial service industry before diving into any investment decisions.
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