Manhattan Bridge Capital, Inc (NASDAQ:LOAN) Shareholders to Receive $0.10 Quarterly Dividend

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) announced a quarterly dividend on Thursday, October 22nd. Investors of record on Thursday, December 31st will be given a dividend of $0.1050 per share by the credit services provider on Friday, January 15th. This represents a $0.42 dividend on an annualized basis and a yield of 12.0%. The ex-dividend date of this dividend is Thursday, December 31st. This is a 4.5% decrease from Manhattan Bridge Capital’s previous quarterly dividend of $0.11.

Manhattan Bridge Capital has a dividend payout ratio of 91.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Manhattan Bridge Capital to earn $0.44 per share next year, which means the company may not be able to cover its $0.44 annual dividend with an expected future payout ratio of 100.0%.

Manhattan Bridge Capital Stock Performance

Shares of LOAN stock opened at $3.49 on Friday. Manhattan Bridge Capital has a one year low of $3.31 and a one year high of $5.27. The company has a 50 day moving average price of $3.86 and a 200 day moving average price of $4.16. The firm has a market capitalization of $39.89 million, a price-to-earnings ratio of 8.31 and a beta of 0.20.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings results on Wednesday, October 21st. The credit services provider reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. Manhattan Bridge Capital had a net margin of 58.61% and a return on equity of 11.12%. The company had revenue of $0.00 million for the quarter, compared to analyst estimates of $2.05 million. As a group, equities analysts forecast that Manhattan Bridge Capital will post 0.42 EPS for the current fiscal year.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) is a real estate finance company that originates, services and manages short-term, first-mortgage loans. Its loans are generally secured by residential real estate and are designed to provide financing for property acquisitions, renovations, development and other real estate-related purposes.

The company primarily serves real estate investors and developers seeking financing that may not be available through traditional lending channels. Its lending activities have historically been concentrated in the New York metropolitan area and other selected markets, with an emphasis on collateral-based underwriting and short-term loan structures.

Manhattan Bridge Capital was founded in 2003 and is headquartered in Great Neck, New York.