Manhattan Bridge Capital, Inc Announces Quarterly Dividend of $0.11 (NASDAQ:LOAN)

Key Points

• $0.11 quarterly dividend declared, payable July 15 to shareholders of record on July 8, with an annualized yield of 9.5% (ex-dividend date July 8).
• Dividend growth has been essentially flat (0.0% average over three years) and the payout ratio is high at 91.7%, meaning the dividend is currently covered but could be at risk if earnings decline.
• Shares last traded at about $4.63 with a market cap near $52.9M and a P/E of 10.29; the company reported Q EPS of $0.10 (meeting estimates) but showed negligible revenue versus analysts' $2.11M estimate.

Manhattan Bridge Capital, Inc (NASDAQ:LOAN - Get Free Report) announced a quarterly dividend on Tuesday, April 14th. Shareholders of record on Wednesday, July 8th will be given a dividend of 0.11 per share by the credit services provider on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 9.5%. The ex-dividend date of this dividend is Wednesday, July 8th.

Manhattan Bridge Capital has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Manhattan Bridge Capital has a 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.

Manhattan Bridge Capital Stock Performance

NASDAQ:LOAN traded up $0.19 during trading hours on Tuesday, reaching $4.63. The stock had a trading volume of 28,891 shares, compared to its average volume of 27,680. Manhattan Bridge Capital has a 52 week low of $4.13 and a 52 week high of $5.85. The company has a 50 day moving average price of $4.42 and a two-hundred day moving average price of $4.71. The stock has a market capitalization of $52.92 million, a PE ratio of 10.29 and a beta of 0.21.

Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last posted its quarterly earnings data on Friday, March 27th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $0.00 million during the quarter, compared to analyst estimates of $2.11 million. Manhattan Bridge Capital had a return on equity of 11.81% and a net margin of 58.97%.

Institutional Trading of Manhattan Bridge Capital

Several institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its stake in shares of Manhattan Bridge Capital by 140.7% during the second quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider's stock valued at $31,000 after buying an additional 3,292 shares during the last quarter. RW Investment Management LLC purchased a new position in Manhattan Bridge Capital during the 3rd quarter valued at $71,000. Bridgeway Capital Management LLC boosted its holdings in Manhattan Bridge Capital by 28.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 19,516 shares of the credit services provider's stock valued at $91,000 after acquiring an additional 4,300 shares during the period. Rothschild Wealth LLC purchased a new position in Manhattan Bridge Capital during the 4th quarter valued at $118,000. Finally, Kestra Advisory Services LLC boosted its holdings in Manhattan Bridge Capital by 94.2% during the 4th quarter. Kestra Advisory Services LLC now owns 25,877 shares of the credit services provider's stock valued at $120,000 after acquiring an additional 12,553 shares during the period. Institutional investors own 21.84% of the company's stock.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc NASDAQ: LOAN is a publicly traded business development company (BDC) that specializes in providing financing solutions to small and medium-sized businesses across the United States. The firm structures short-term bridge loans, senior secured debt and mezzanine debt facilities to support clients' growth initiatives, working capital needs and acquisition financing requirements. Its investment approach is designed to deliver flexible, asset-backed financing tailored to the unique cash-flow profiles of its portfolio companies.

Operating primarily from its New York headquarters, Manhattan Bridge Capital partners with businesses in a variety of sectors, including business services, consumer products, healthcare and industrial manufacturing.

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