Canadian mortgage industry stocks

Companies in the same group usually move together because they share the same drivers: Bank of Canada rate decisions, credit losses, Canadian housing and fund flows into the financial sector. The gaps between the lines come from each company's own mix of business. Scotiabank, for example, has more international exposure than the other five banks.

Share price alone does not show whether a company is growing. Market cap is price times shares outstanding, so it is the fair way to compare a $277 bank with a $5 lender. Price to book compares the market value with the company's accounting equity. Mortgage investment corporations are built to pay out most of their income, so their price stays flat by design and total return, price plus dividends, is the better measure.

Over the past year VersaBank has done best at +88.5% and goeasy has done worst at -72.7%.

• Timbercreek Financial

  13.6%

  yield

  Paid, last 12 months

  $0.70

  Payments a year

  12

  Payout ratio

  n/m

  1 year growth

  0.0%

  3 year growth, annual

  0.0%

  Next ex-dividend

  Oct 30, 2026

• Firm Capital Mortgage Investment

  9.5%

  yield

  Paid, last 12 months

  $1.02

  Payments a year

  12

  Payout ratio

  98%

  1 year growth

  +2.8%

  3 year growth, annual

  +2.4%

  Next ex-dividend

  Oct 30, 2026

• Atrium Mortgage Investment

  8.4%

  yield

  Paid, last 12 months

  $0.94

  Payments a year

  12

  Payout ratio

  94%

  1 year growth

  +0.6%

  3 year growth, annual

  +1.3%

  Next ex-dividend

  Oct 30, 2026

• MCAN Mortgage Corporation

  7.9%

  yield

  Paid, last 12 months

  $1.70

  Payments a year

  4

  Payout ratio

  80%

  1 year growth

  +4.9%

  3 year growth, annual

  +5.2%

  Next ex-dividend

  n/a

• Laurentian Bank

  4.7%

  yield

  Paid, last 12 months

  $1.88

  Payments a year

  4

  Payout ratio

  n/m

  1 year growth

  0.0%

  3 year growth, annual

  +0.4%

  Next ex-dividend

  n/a

• Scotiabank

  3.5%

  yield

  Paid, last 12 months

  $4.48

  Payments a year

  4

  Payout ratio

  58%

  1 year growth

  +3.7%

  3 year growth, annual

  +2.3%

  Next ex-dividend

  n/a

• Bank of Montreal

  2.8%

  yield

  Paid, last 12 months

  $6.68

  Payments a year

  4

  Payout ratio

  54%

  1 year growth

  +5.0%

  3 year growth, annual

  +5.3%

  Next ex-dividend

  Oct 30, 2026

• CIBC

  2.7%

  yield

  Paid, last 12 months

  $4.28

  Payments a year

  4

  Payout ratio

  40%

  1 year growth

  +10.3%

  3 year growth, annual

  +7.6%

  Next ex-dividend

  n/a

• Toronto-Dominion Bank

  2.6%

  yield

  Paid, last 12 months

  $4.40

  Payments a year

  4

  Payout ratio

  46%

  1 year growth

  +4.8%

  3 year growth, annual

  +4.6%

  Next ex-dividend

  n/a

• National Bank of Canada

  2.5%

  yield

  Paid, last 12 months

  $5.12

  Payments a year

  4

  Payout ratio

  42%

  1 year growth

  +10.3%

  3 year growth, annual

  +8.8%

  Next ex-dividend

  n/a

• Royal Bank of Canada

  2.4%

  yield

  Paid, last 12 months

  $6.58

  Payments a year

  4

  Payout ratio

  41%

  1 year growth

  +11.1%

  3 year growth, annual

  +7.7%

  Next ex-dividend

  Oct 26, 2026

• Dominion Lending Centres

  2.1%

  yield

  Paid, last 12 months

  $0.18

  Payments a year

  4

  Payout ratio

  61%

  1 year growth

  +28.6%

  3 year growth, annual

  +14.5%

  Next ex-dividend

  n/a

• EQB Inc.

  2.0%

  yield

  Paid, last 12 months

  $2.40

  Payments a year

  4

  Payout ratio

  44%

  1 year growth

  +15.4%

  3 year growth, annual

  +18.8%

  Next ex-dividend

  n/a

• VersaBank

  0.3%

  yield

  Paid, last 12 months

  $0.10

  Payments a year

  4

  Payout ratio

  10%

  1 year growth

  0.0%

  3 year growth, annual

  0.0%

  Next ex-dividend

  n/a

• goeasy

  No payment since December 24, 2025

  Paused

  yield

Growth compares dividends actually paid, so a special dividend can inflate it. Mortgage investment corporations must pay out most of their income to keep their tax status, so payout ratios near or above 100% are normal for them and not a warning sign. Payout ratios above 150% are shown as n/m because they usually reflect a temporary earnings drop. A company with a high yield and a falling share price may be paying a dividend the market does not expect to last.

• August 4, 2026 · Acquisition
  Filogix (from Finastra)
  Dominion Lending Centres

  $58.5 million in cash, financed with a TD Bank facility. Filogix is the mortgage origination platform many brokers use.

  Announced

  Canadian Mortgage Trends
• December 3, 2025 · Acquisition
  PC Financial (from Loblaw)
  EQB

  Paid partly in 7.2 million new EQB shares. Loblaw now holds about 19.9% of EQB and intends to build to 25%.

  Closed July 1, 2026

  Closing releaseAnnouncement
• December 2, 2025 · Take private
  Laurentian Bank
  Fairstone Bank of Canada, with National Bank taking the retail and small business portfolios

  $40.50 per share in cash, about $1.9 billion. Shareholders approved on February 5, 2026 with 98.77% in favour.

  Premium: About 20% over the December 1, 2025 close of $33.76

  Approvals received. Closing expected November 1, 2026

  Advisor.caLaurentian release
• July 27, 2025 · Take private
  First National Financial
  Birch Hill Equity Partners and Brookfield

  $48.00 per share in cash. Founders Stephen Smith and Moray Tawse sold about two thirds of their shares and kept the rest.

  Premium: About 15% over the 30-day average price

  Closed October 2025. Delisted from the TSX

  First National releaseCanadian Mortgage Trends
• October 2, 2024 · Recapitalization
  Dominion Lending Centres Series I preferred shares
  Dominion Lending Centres (buyback)

  $137 million, paid as 30.5 million common shares at $4.00 plus $15 million in cash. Founders' holding company KayMaur ended with about 60% of the common shares.

  Approved by shareholders December 2024

  DLC release
• June 11, 2024 · Acquisition
  Canadian Western Bank
  National Bank of Canada

  All shares: 0.45 National Bank shares for each CWB share, valued at $52.24 at announcement. About $5.0 billion of equity value.

  Premium: 110% over the $24.89 close before the announcement

  Closed 2025. Delisted from the TSX

  MoneySense
• November 21, 2022 · Take private
  Home Capital Group
  Smith Financial Corporation (Stephen Smith)

  $44.00 per share in cash. Home Capital had countered at $47. Smith Financial already owned 9.1%.

  Premium: 63% over the November 18, 2022 close

  Closed 2023. Delisted from the TSX

  Business Wire release

Sagen, Canada Guaranty, MCAP, Merix and Pineapple are privately held and are not tracked here. Funding costs for these lenders follow the Government of Canada bond yield.