SmarterDividends
REFI

Chicago Atlantic Real Estate Finance, Inc.

REFI

Real Estate · REIT - Mortgage · Stock · quarterly payer

$9.30

Undervalued · +238% Add to Portfolio

Forward Yield

20.22%

Annual Dividend

$1.88

Payout Ratio

137%

5-Yr Growth

—

Ex-Date

Sep 30, 2026

Frequency

Quarterly

Key facts about REFI's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 27, 2026, Chicago Atlantic Real Estate Finance, Inc. (REFI) has a forward dividend yield of 20.22%, based on an annual dividend of $1.88 per share and a share price of $9.30.
  • As of Oct 27, 2026, REFI's dividend safety grade from SmarterDividends is C (65 out of 100), which rates the dividend as borderline.
  • REFI has never cut its regular dividend in the payment history SmarterDividends has on record.
  • REFI's most recent ex-dividend date was Sep 30, 2026, for a dividend of $0.47 per share.
  • As of Oct 27, 2026, REFI pays out 137% of its trailing 12-month earnings as dividends (its payout ratio).
  • As of Oct 27, 2026, REFI's 20.22% yield is 50% above its five-year average yield of 13.50%.
  • As of Oct 27, 2026, SmarterDividends' blended fair-value estimate for REFI is $31.48 per share, 238% above the $9.30 share price, so REFI screens as undervalued.
  • Chicago Atlantic Real Estate Finance, Inc. (REFI) pays its dividend quarterly, 4 times a year.
  • Chicago Atlantic Real Estate Finance, Inc. (REFI) has raised its regular dividend 1 time and cut it 0 times across the 19 payments on record since 2022. Its most recent change was a 17.5% increase to $0.470 per share, going ex-dividend on Jun 29, 2022.
Cite this page

SmarterDividends, "REFI Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 27, 2026, https://smarterdividends.com/stocks/REFI

Summary

As of Oct 27, 2026, Chicago Atlantic Real Estate Finance, Inc. (REFI) yields 20.22% ($1.88 a year per share) and has a dividend safety grade of C (65/100).

Is REFI a good dividend stock?

Yes, with caveats

Chicago Atlantic Real Estate Finance, Inc. (REFI) pays a quarterly dividend yielding 20.22% ($1.88/yr), with 0 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.

Advantages

  • Never cut its dividend on record

Risks

  • Elevated payout ratio (137%)
  • Very high yield can signal elevated risk
  • Share price is down over the past 5 years

Key Data

Dividend Yield
20.22%
Payout Ratio
137%
Annual Dividend
$1.88
5-Yr Avg Growth
—
Ex-Dividend Date
Sep 30, 2026
Years of Growth
0
Frequency
quarterly
Beta
0.34
Market Cap
$238.3M
P/E Ratio
6.8
5-Yr Total Return
-44%
52-Week Range
$8.76 – $13.49
Dividend Safety
C · 65/100
Ever Cut?
No

REFI dividend raises and cuts

Chicago Atlantic Real Estate Finance, Inc. (REFI) has raised its regular dividend 1 time and cut it 0 times across the 19 payments on record since 2022. Its most recent change was a 17.5% increase to $0.470 per share, going ex-dividend on Jun 29, 2022.

Ex-dateChangeOld → newMove
Jun 29, 2022Raise$0.400 → $0.470+17.5%
Every REFI payment →Download every raise and cut (CSV)
REFI ex-dividend date & scheduleNext ex-date Sep 30, 2026 · full ex-dividend historyView →REFI dividend historyEvery payment, totals by year, raises and cutsView →

Frequently Asked Questions

Is REFI a good dividend stock?

Yes, with caveats. Chicago Atlantic Real Estate Finance, Inc. (REFI) pays a quarterly dividend yielding 20.22% ($1.88/yr), with 0 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.

Is REFI undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, REFI's fair value is about $31.48 versus a $9.30 share price — so it looks undervalued (+238% vs. fair value).

Is REFI's dividend safe?

REFI has a dividend-safety grade of C (65/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a clean no-cut history, debt and yield-versus-history.

What is REFI's fair value?

Our blended fair-value estimate for REFI is about $31.48 per share, roughly 238% above the current $9.30 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is REFI a buy, hold, or sell?

We don't issue formal ratings, but on the data REFI screens as "yes, with caveats" and undervalued. Chicago Atlantic Real Estate Finance, Inc. (REFI) pays a quarterly dividend yielding 20.22% ($1.88/yr), with 0 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying. This is research for your own analysis, not investment advice.

Will REFI cut its dividend?

REFI earns a dividend-safety grade of C (65/100), with no dividend cut on record. A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does REFI pay a dividend?

Yes. Chicago Atlantic Real Estate Finance, Inc. pays a quarterly dividend of about $1.88 per share annually, a forward yield of roughly 20.22%.

What is REFI's dividend yield?

As of Oct 27, 2026, REFI's forward dividend yield is 20.22%, based on a $1.88 annual dividend and a $9.30 share price.

What is REFI's dividend per share?

As of Oct 27, 2026, REFI pays $1.88 per share per year, distributed on a quarterly basis.

What is REFI's dividend payout ratio?

As of Oct 27, 2026, REFI's payout ratio is 137% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

How many years has REFI grown its dividend?

REFI does not currently have a long dividend-growth streak on record.

When is the next REFI ex-dividend date?

As of Oct 27, 2026, REFI's next ex-dividend date hasn't been announced. The most recent was Sep 30, 2026, for $0.47 per share.

Income Calculator

At $1.88 / yr per share

Per payment (quarterly)$47.00
Annual$188.00
Monthly avg$15.67

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