Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Announces Quarterly Dividend of $0.12

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) announced a quarterly dividend on Monday, July 29th, Zacks reports. Investors of record on Tuesday, October 8th will be paid a dividend of 0.115 per share by the credit services provider on Tuesday, October 15th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.57%. The ex-dividend date of this dividend is Tuesday, October 8th.

Manhattan Bridge Capital has raised its dividend payment by an average of 2.3% annually over the last three years. Manhattan Bridge Capital has a payout ratio of 93.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

Manhattan Bridge Capital Trading Up 2.3 %

Shares of LOAN traded up $0.12 on Tuesday, reaching $5.37. 882 shares of the company’s stock traded hands, compared to its average volume of 22,393. The stock’s 50 day simple moving average is $5.22 and its two-hundred day simple moving average is $5.02. Manhattan Bridge Capital has a 52-week low of $4.27 and a 52-week high of $5.59. The stock has a market cap of $61.43 million, a PE ratio of 10.74 and a beta of 0.59.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its earnings results on Monday, July 22nd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. Manhattan Bridge Capital had a return on equity of 13.20% and a net margin of 56.72%. The business had revenue of $2.44 million during the quarter.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Manhattan Bridge Capital in a research report on Thursday, July 25th. They issued a “strong-buy” rating for the company.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. The company offers short-term, secured, and non-banking loans to real estate investors to fund acquisition, renovation, rehabilitation, or development of residential or commercial properties.