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, 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.