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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) 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.
Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) has announced a quarterly dividend of $0.125 per share. The dividend is set to benefit all shareholders of record on October 8, 2021, with payment scheduled for October 15, 2021. This decision reflects the company's ongoing commitment to returning value to its shareholders.
Manhattan Bridge Capital reported total revenues of approximately $1,713,000 for Q2 2021, a slight decline of 1.6% from $1,741,000 in Q2 2020. The decrease was mainly due to lower interest rates and increased competition. Net income for the quarter was around $1,058,000, consistent in per-share earnings at $0.11. For the first half of 2021, total revenue reached $3,443,000, down from $3,452,000 in 2020, driven by similar factors. The company completed a public offering of 1,875,000 shares at $7.20 each, raising $13.5 million, which will bolster growth.
Manhattan Bridge Capital (LOAN) closed a public offering of 1,875,000 common shares at $7.20 each, raising significant capital. An additional 281,250 shares may be purchased by the underwriter. Proceeds will primarily be used to pay down existing credit lines and potentially expand the loan portfolio. This offering is registered under an effective shelf registration statement filed with the SEC. B. Riley Securities acted as the book-running manager. The company specializes in short-term, secured loans for real estate investments in the New York metro area and Florida.
Manhattan Bridge Capital (LOAN) announced the pricing of a public offering of 1,875,000 common shares at $7.20 each, anticipating gross proceeds of $13.5 million. The underwriter is granted a 30-day option for an additional 281,250 shares. Proceeds will primarily reduce outstanding credit line balances, with any remaining funds allocated for expanding the loan portfolio and general corporate purposes. The offering is set to close on July 9, 2021, contingent on customary conditions.
Manhattan Bridge Capital (NasdaqCM: LOAN) announced a proposed underwritten public offering of its common shares to reduce its existing credit line balance and for general corporate purposes. The offering may allow underwriters to purchase an additional 15% of the shares to cover over-allotments. The final offering size and terms will depend on market conditions. This offering follows an effective registration statement with the SEC. B. Riley Securities, Inc. will act as the book-running manager.