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

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) announced a quarterly dividend on Monday, November 25th,Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.115 per share by the credit services provider on Wednesday, January 15th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.08%. The ex-dividend date is Tuesday, December 31st.

Manhattan Bridge Capital has raised its dividend payment by an average of 2.3% per year over the last three years. Manhattan Bridge Capital has a 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 decline.

Manhattan Bridge Capital Trading Down 0.2 %

Manhattan Bridge Capital stock opened at $5.69 on Friday. Manhattan Bridge Capital has a 1-year low of $4.60 and a 1-year high of $5.90. The firm has a market capitalization of $65.09 million, a PE ratio of 11.61 and a beta of 0.57. The firm’s 50 day simple moving average is $5.44 and its 200 day simple moving average is $5.34.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its quarterly 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. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%. The firm had revenue of $2.31 million for the quarter.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Manhattan Bridge Capital in a report on Wednesday. They issued a “strong-buy” rating on the stock.

About Manhattan Bridge Capital

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.