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 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.
Manhattan Bridge Capital has declared a quarterly dividend of $0.10 per share, payable on July 15, 2020, to shareholders of record as of July 10, 2020. The board's decision reflects confidence in navigating the challenges posed by the COVID-19 crisis, with CEO Assaf Ran indicating that current issues appear manageable but acknowledges preparedness for worsening conditions. This announcement highlights the company's commitment to returning value to shareholders amid uncertain market dynamics.