chicago atlantic real estate finance inc refi released results for the second quarter ended june 30 2022 revealing net income of approximately 75 million or 042 per weighted average diluted common share a decrease of 435 compared to 78 million in q2 2021   total expenses of approximately 29 million before provision for current expected credit losses   adjusted distributable earnings of approximately 88 million or 050 per weighted average diluted common share   book value per common share of 1513 as of june 30 2022   as of june 30 2022 the company had borrowed 450 million on its 650 million secured credit facility resulting in a leverage ratio of approximately 168 subsequent to quarter end the company drew an additional 80 million on the facility leaving 120 million of capacity john mazarakis executive chairman of chicago atlantic stated “the cannabis market fundamentals across the country continue to demonstrate that our strategy of lending to borrowers in limitedlicense states primarily with vertically integrated operations has created a strong investment platform and a very valuable loan portfolio in order to protect book value while remaining conservatively levered we have elected to limit additional growth in the reit portfolio that would require funding from a dilutive equity or debt offering and rather meet the strong demand in our large loan pipeline through the chicago atlantic platform for the time being we have intensified our efforts to expand our existing credit facility and intend to provide an attractive return to our shareholders through a wellcovered dividend until such time as capital markets become more efficient and offer opportunities that are accretive to the platform”   as of june 30 2022 total loan commitments of approximately 3571 million across 22 portfolio companies   the portfolio’s weighted average yield to maturity was approximately 177 as of june 30 2022 compared with approximately 172 as of march 31 2022   on july 15 2022 chicago atlantic paid a regular quarterly cash dividend of 047 per share of common stock for the second quarter of 2022 to common stockholders of record on june 30 2022 the dividend represented a 175 increase from the first quarter of 2022 second half 2022 outlook  based on the company’s decision to only grow the loan portfolio if capital is available which is accretive to book value chicago atlantic expects to report the following for the second half of 2022   adjusted distributable earnings in a range of 100 to 105 per weighted average diluted common share or a range of 195 to 200 for full year 2022   the regular quarterly dividend amount for both the third and fourth quarters of 2022 is expected to be at least equal to the 047 paid for the second quarter of 2022 this outlook does not include additional growth in the reit’s portfolio potential adjustments to the prime rate or increased capacity under the secured credit facility the company only provides guidance for adjusted distributable earnings not net income due to the inherent difficulty in forecasting certain types of expenses that may or may not affect net income per weighted average diluted common share cannabis industry lender chicago atlantic real estate finance reports q4 net income of 44m on heels of ipo