Welcome to our dedicated page for Manhattan Bridge news (Ticker: LOAN), a resource for investors and traders seeking the latest updates and insights on Manhattan Bridge stock.
Manhattan Bridge Capital, Inc. reports developments in a real estate finance business that originates short-term, secured, non-bank loans to real estate investors. Its lending supports acquisition, renovation, rehabilitation and improvement of residential or commercial properties in the New York metropolitan area, including New Jersey and Connecticut, and in Florida.
Company updates commonly address interest income and origination fees from secured real estate loans, loan receivable levels, borrowing costs under credit facilities, and net income. Recurring capital-return items include quarterly cash dividends and board-authorized common stock repurchases.
Manhattan Bridge Capital (Nasdaq: LOAN) announced a share repurchase plan, allowing the buyback of up to 100,000 common shares over the next twelve months. The decision, authorized by the Board of Directors, comes after a recent decline in share price due to negative market reactions. CEO Assaf Ran emphasized the belief in the company's portfolio strength and views the current share price as a buying opportunity. The company specializes in offering short-term secured loans to real estate investors in the New York metropolitan area and Florida. This press release contains forward-looking statements regarding future performance and market conditions.
Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) has announced a cash dividend of $0.1125 per share, set to benefit all shareholders on record as of April 10, 2023. This dividend, following the board's approval on March 13, 2023, will be distributed on April 17, 2023. This financial move highlights the company's commitment to returning value to its shareholders.
Manhattan Bridge Capital reported a record net earnings of over $5.2 million for 2022 amidst a challenging real estate market. The company announced a dividend of $0.1125 per share for Q1 2023, payable on April 17, 2023, to shareholders of record by April 10, 2023. CEO Assaf Ran emphasized that this dividend is crucial for preserving capital and increasing shareholder value despite rising interest expenses impacting operational income. The board approved this payout, reflecting confidence in the company's financial stability.
Manhattan Bridge Capital, Inc. (Nasdaq: LOAN) reported a net income of approximately $5,212,000 for the year ended December 31, 2022, representing $0.45 per share, a 17.8% increase from $4,423,000 or $0.42 per share in 2021. Total revenue rose 25.9% to $8,571,000, driven by increased lending operations, primarily interest income of $6,773,000 and origination fees of $1,798,000.
Operating expenses surged 40.6% to $3,377,000 due to rising interest costs. Despite challenges in the real estate market and higher interest rates impacting earnings per share, the company achieved a record annual profit.
Manhattan Bridge Capital (NASDAQ: LOAN) announced a quarterly dividend of $0.125 per share, to be paid to shareholders of record on December 30, 2022. The payment is scheduled for January 17, 2023. This dividend declaration reflects the company’s commitment to returning value to its shareholders.
Manhattan Bridge Capital (Nasdaq: LOAN) reported a net income of approximately $1,237,000 for Q3 2022, up 11.4% from $1,110,000 in Q3 2021. Total revenues increased 29.5% to $2,107,000, driven by growth in lending operations. For the nine months ended September 30, 2022, net income reached $4,018,000, a 22.7% increase year-over-year. Revenue for the nine-month period was approximately $6,339,000, up 25.0%. Despite higher interest expenses, the company maintains strong profitability and reports no loan defaults.
Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) has announced a cash dividend of $0.125 per share, following the board's approval on July 28, 2022. This dividend will be paid to shareholders of record on October 11, 2022, with a payment date set for October 17, 2022. This initiative reflects the company's commitment to returning value to shareholders.
Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) has declared a quarterly dividend of $0.125 per share. This payment is designated for all shareholders of record on October 11, 2022, with disbursement scheduled for October 17, 2022. This move underscores the company’s commitment to returning value to its shareholders, signaling confidence in ongoing business performance.
Manhattan Bridge Capital, Inc. (Nasdaq: LOAN) reported total revenues of approximately $2,117,000 for Q2 2022, marking a 23.6% increase from $1,713,000 in Q2 2021. The rise is attributed to boosted lending operations, with interest income on secured loans reaching $1,612,000 and origination fees $504,000. Net income rose to $1,356,000 or $0.12 per share, up 28.2%. For the first half of 2022, revenues totaled $4,232,000, a 22.9% increase year-over-year. CEO Assaf Ran noted the company’s strong position amid rising interest rates and tight banking conditions.
Manhattan Bridge Capital announced a cash dividend of $0.125 per share, set to be paid to shareholders of record on July 8, 2022, with the payment date scheduled for July 15, 2022. This dividend reflects the company's ongoing commitment to returning value to its shareholders, following the board's approval on April 15, 2022.