Manhattan Bridge Capital, Inc (NASDAQ:LOAN) Declares Quarterly Dividend of $0.10

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) declared a quarterly dividend on Thursday, October 22nd. Stockholders of record on Thursday, December 31st will be paid 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 dividend 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% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities 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 Price Performance

Shares of LOAN stock traded up $0.10 during trading hours on Thursday, reaching $3.49. 95,514 shares of the company were exchanged, compared to its average volume of 31,443. Manhattan Bridge Capital has a fifty-two week low of $3.31 and a fifty-two week high of $5.27. The stock’s fifty day moving average is $3.87 and its two-hundred day moving average is $4.17. The company has a market cap of $39.89 million, a price-to-earnings ratio of 8.31 and a beta of 0.20.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued 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 58.30% and a return on equity of 11.02%. The business had revenue of $0.00 million during the quarter, compared to analyst estimates of $2.04 million. On average, research analysts anticipate that Manhattan Bridge Capital will post 0.42 earnings per share for the current year.

About Manhattan Bridge Capital

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.