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MCAN Mortgage Corp T.MKP

Alternate Symbol(s):  MAMTF

MCAN Mortgage Corporation is a Canada-based loan company and mortgage investment corporation. Its objective is to generate a reliable stream of income by investing in a diversified portfolio of Canadian mortgages, including residential mortgages, residential construction, non-residential construction and commercial loans, as well as other types of securities, loans, and real estate investments. Its lines of business include three divisions: MCAN Home, MCAN Capital and MCAN Wealth. MCAN Home is its residential mortgage lender that partners with accredited mortgage professionals to offer both insured and uninsured mortgage solutions across Canada. MCAN Capital focuses on financing and investment opportunities in the construction and commercial loan markets, real estate investment trusts (REITs), and private investment funds focused on lending to and developing Canadian communities. MCAN Wealth offers investors Canada Deposit Insurance Corporation (CDIC) insured investment solutions.


TSX:MKP - Post by User

Bullboard Posts
Post by Bibizbuzon Feb 26, 2020 6:21pm
220 Views
Post# 30738072

Earnings release - great results with div increase of .02

Earnings release - great results with div increase of .02
MCAN Mortgage Corporation ("MCAN", the "Company" or "we") (TSX: "MKP") reported net income of $10.6 million ($0.44 per share) for the fourth quarter ended December 31, 2019, an increase of 197% from $3.5 million ($0.15 per share) in the fourth quarter of 2018. In the fourth quarter of 2019, we recorded a $2.1 million net gain on securities compared to a $4.2 million net loss on securities in the fourth quarter of 2018. Year to date, we reported net income of $48.3 million ($2.01 per share), an increase of 33% from $36.3 million ($1.54 per share) for the same period in 2018. The Board of Directors (the "Board") declared an increase to the quarterly dividend from $0.32 per share to $0.34 per share on February 26, 2020 to be paid March 30, 2020 to shareholders of record as of March 13, 2020.
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