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

Posted by Geri Gentry on Nov 28th, 2024

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN – Get Free Report) announced a quarterly dividend on Wednesday, November 27th,Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.115 per share by the credit services provider on Wednesday, January 15th. This represents a $0.46 annualized dividend and a dividend yield of 8.58%. The ex-dividend date is Tuesday, December 31st.

Manhattan Bridge Capital has increased its dividend by an average of 2.3% annually over the last three years. Manhattan Bridge Capital has a dividend payout ratio of 92.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

Manhattan Bridge Capital Price Performance

NASDAQ LOAN opened at $5.36 on Thursday. Manhattan Bridge Capital has a 12 month low of $4.50 and a 12 month high of $5.90. The company has a 50-day moving average of $5.42 and a 200-day moving average of $5.29. The company has a market cap of $61.32 million, a P/E ratio of 10.92 and a beta of 0.58.

Manhattan Bridge Capital (NASDAQ:LOAN – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. The business had revenue of $2.31 million for the quarter. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Manhattan Bridge Capital in a research note on Saturday, November 23rd. They set a “strong-buy” rating for the company.

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About Manhattan Bridge Capital

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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.