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, 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.
Manhattan Bridge Capital has declared a quarterly dividend of $0.125 per share, scheduled for payment to shareholders on July 15, 2022. Shareholders of record as of July 8, 2022, will be eligible to receive this dividend. This announcement reflects the company's commitment to returning value to its investors.
Manhattan Bridge Capital reported a net income of approximately $1,425,000 for Q1 2022, marking a 28.8% increase from $1,106,000 in Q1 2021. Earnings per share remained stable at $0.12. Total revenue rose 22.3% to $2,115,000, driven by robust lending operations, including interest income of $1,644,000 from secured commercial loans. However, this growth was partially offset by higher general and administrative expenses. As of March 31, 2022, shareholders’ equity stood at approximately $43,377,000.
Manhattan Bridge Capital reported a net income of approximately $4.423 million for the year ended December 31, 2021, or $0.42 per share, reflecting a 4.6% increase from $4.229 million in 2020. Total revenue decreased to $6.808 million, down 2.8% from $7.006 million due to lower interest rates and competition. Operating costs fell 14.1% to $2.402 million. Shareholders' equity rose to $43.386 million from $31.964 million in the previous year, aided by a successful share offering in July 2021, which raised approximately $13 million.
Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) has declared a quarterly dividend of $0.125 per share, payable to shareholders of record on April 8, 2022, with a payment date of April 15, 2022. CEO Assaf Ran highlighted that previous stock offerings had temporarily impacted dividend distributions, but affirmed that the dividend rate is now comfortable and reflective of the company's return on investment. The company specializes in providing short-term secured loans to real estate investors in the New York metropolitan area and Florida.
Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) has declared a cash dividend of $0.125 per share, set for payment on January 18, 2022. This dividend will benefit all shareholders recorded by December 31, 2021. The announcement follows the board's approval on November 9, 2021, reiterating the company's commitment to returning value to its shareholders through consistent dividend payments.
Manhattan Bridge Capital has declared a quarterly dividend of $0.125 per share for shareholders of record on December 31, 2021. The payment date is set for January 18, 2022. This initiative demonstrates the company's commitment to returning value to its shareholders. The proactive dividend declaration signals financial stability and confidence in future performance, positioning LOAN as an attractive option for income-focused investors.
Manhattan Bridge Capital (LOAN) reported a net income of approximately $1,110,000 for Q3 2021, down from $1,151,000 in Q3 2020, attributed to lower interest income despite decreased interest expenses. Total revenues for Q3 2021 were about $1,627,000, an 8.9% decline from $1,786,000 in the previous year, mainly due to lower loan interest rates and intense competition, offset by higher origination fees. Year-to-date, net income was stable at $3,274,000. The company's stockholders' equity rose to approximately $45,107,000 by September 30, 2021, reflecting a solid financial position.
Manhattan Bridge Capital (NASDAQ: LOAN) has announced a cash dividend of $0.125 per share, set to benefit all shareholders recorded by October 8, 2021. This dividend payment will be executed on October 15, 2021. This move reflects the company's commitment to returning value to its shareholders and maintaining a steady distribution policy.