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. (NASDAQ: LOAN) is a real estate finance company that offers short-term, secured, non-banking loans, often described as hard money loans, to real estate investors. Its news flow reflects the activities of a lender focused on first mortgage loans secured by residential and commercial properties in the New York metropolitan area, including New Jersey and Connecticut, and in Florida.
News about LOAN frequently covers quarterly and year-to-date financial results. The company’s earnings releases detail interest income from loans, origination fees, total revenues, operating expenses and net income, along with commentary from management on loan originations, loan payoffs, leverage and conditions in the real estate markets where it operates. These updates provide insight into the performance of its loan portfolio and the impact of changes in loans receivable on revenue.
Another recurring theme in Manhattan Bridge Capital’s news is capital management. Press releases and 8-K filings report regular quarterly dividend declarations and payments on its common stock, including record and payment dates. In addition, the company has announced a share buyback program authorizing the repurchase of up to 100,000 common shares over a 12-month period, with flexibility to execute purchases in the open market or through privately negotiated transactions.
Regulatory and financing developments also appear in the company’s news. Recent 8-K filings describe the redemption of all outstanding 6.00% Senior Secured Notes due April 22, 2026, listed on the NYSE American under the symbol LOAN/26, and the establishment of a new credit facility of up to $10,000,000 for its subsidiary MBC Funding II Corp. with Valley National Bank. Coverage of shareholder meetings and voting results rounds out the news stream, highlighting director elections, auditor ratification and advisory votes on executive compensation.
Investors following Manhattan Bridge Capital’s news can use this page to review earnings announcements, dividend declarations and payments, share repurchase authorizations, credit facility arrangements, note redemptions and shareholder meeting outcomes related to LOAN.
Manhattan Bridge Capital reported a net income of approximately $4.23 million for the year ended December 31, 2020, a 5.9% decline from $4.50 million in 2019. Total revenue decreased 4.6% to about $7.01 million, primarily due to lower interest rates and reduced demand for loans amid the COVID-19 pandemic. The company's operating expenses fell slightly, with total operating costs at approximately $2.80 million. Despite these challenges, shareholders' equity saw a marginal increase to around $31.96 million. The CEO highlighted the company's zero default record since inception.
Manhattan Bridge Capital has declared a quarterly dividend of $0.11 per share for all shareholders of record on April 9, 2021. This dividend will be disbursed on April 15, 2021, showcasing the company's ongoing commitment to returning value to its investors. The announcement reflects the firm’s financial health and aims to enhance shareholder confidence.
Manhattan Bridge Capital (NASDAQ: LOAN) announced a cash dividend of $0.11 per share, set to benefit shareholders of record on December 31, 2020. This dividend is part of the board-approved decision made on October 26, 2020 and will be distributed on January 15, 2021. The timely payment reflects the company's commitment to returning value to its investors.
Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) has declared a quarterly dividend of $0.11 per share. This dividend will be paid to all shareholders of record as of December 31, 2020, with a payment date set for January 15, 2021. This announcement reflects the company's ongoing commitment to returning value to its shareholders.
Manhattan Bridge Capital (LOAN) reported a net income of approximately $1,151,000, or $0.12 per share, for Q3 2020, unchanged from Q3 2019. Total revenues fell to about $1,786,000, a decrease of 6.8% year-over-year, driven by lower interest rates and reduced loan demand due to COVID-19. For the nine months ending September 30, 2020, net income was approximately $3,264,000, down 2.7% compared to the prior year. The company emphasized its stability with no defaults and continued dividend distribution despite challenging market conditions.
Manhattan Bridge Capital (LOAN) announced a cash dividend of $0.10 per share, payable on October 15, 2020, to shareholders of record by October 9, 2020. This follows their previous dividend declaration on July 30, 2020. CEO Assaf Ran expressed confidence that the worst impact of COVID-19 is behind them and highlighted the company's performance without defaults. He hopes for a return to a growth pattern in the near future, emphasizing their commitment to maintaining dividends during the pandemic.
Manhattan Bridge Capital announced a quarterly dividend of $0.10 per share for shareholders of record on October 9, 2020. This dividend is scheduled for payment on October 15, 2020. The declaration reflects the company's commitment to returning value to its investors amidst ongoing market conditions.
Manhattan Bridge Capital reported total revenues of approximately $1.74 million for Q2 2020, down 2.1% from $1.78 million in Q2 2019, primarily due to lower interest rates and reduced demand for loans amid COVID-19. Net income for the quarter was approximately $1.1 million, matching the previous year's income per share. For the first half of 2020, revenues fell 3.2% to about $3.45 million. The firm maintains a strong equity position of $32.85 million and highlights its ability to uphold dividends despite the pandemic's challenges.
Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) has declared a cash dividend of $0.10 per share. This dividend, approved by the board on May 7, 2020, will be paid to shareholders of record as of July 10, 2020. Payment is scheduled for July 15, 2020.
Manhattan Bridge Capital (LOAN) has announced a change in the location of its Annual Meeting of Shareholders, now set to take place at 60 Cutter Mill Rd., Suite 205, Great Neck, NY on June 19, 2020, due to COVID-19 restrictions. The meeting will adhere to health protocols, requiring face coverings and temperature checks for attendees. Shareholders are encouraged to vote by mail or digitally and must notify the Company 48 hours in advance if planning to attend in person. Shareholders must have held shares as of May 1, 2020, to participate.
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