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Last $4.22 USD
Change Today +0.1299 / 3.18%
Volume 57.1K
LOAN On Other Exchanges
Symbol
Exchange
NASDAQ CM
As of 8:10 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

manhattan bridge capital inc (LOAN) Key Developments

Manhattan Bridge Capital, Inc. Announces Quarterly Dividend, Payable on July 15, 2015

Manhattan Bridge Capital, Inc. announced that in accordance with the board approved dividend declared May 5, 2015, a cash dividend of $0.08 per share will be paid to all shareholders of record on July 10, 2015 with pay date on July 15, 2015.

Manhattan Bridge Capital, Inc., Annual General Meeting, Jul 07, 2015

Manhattan Bridge Capital, Inc., Annual General Meeting, Jul 07, 2015., at 09:00 US Eastern Standard Time. Location: at the offices of Morse, Zelnick, Rose & Lander, LLP. Agenda: To consider the election of five directors to serve until the next annual meeting of stockholders and until their respective successors have been duly elected and qualified; to consider advisory approval of the appointment of Hoberman & Lesser, LLP as the company's independent auditors for the fiscal year ending December 31, 2015; and to consider the transaction of such other business as may properly come before the meeting and any adjournment or adjournments thereof.

Manhattan Bridge Capital, Inc. Declares Quarterly Dividend Payable on July 15, 2015

Manhattan Bridge Capital, Inc. announced that its board of directors had approved a $0.08 per share quarterly dividend to be paid to all shareholders of record on July 10, 2015 with pay date on July 15, 2015.

Manhattan Bridge Capital, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Manhattan Bridge Capital, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net income of $475,596 or $0.08 per basic and diluted share, against $208,269 or $0.05 per basic and diluted share a year ago. The increase in net income was mainly due to an increase in operating income and no income tax expense for the three month period ended March 31, 2015. Total revenue was $911,761 compared to $608,910 a year ago. The increase in revenue represents an increase in lending operations. Income from operations was $475,596 compared to $316,382 reported a year ago. This increase in income from operations is primarily attributable to an increase in revenue, offset by an increase in interest expense resulting from the additional short term loans received by the company and the company's use of lines of credit in order to increase its ability to make loans, and by a special bonus to officers for establishing a three-year $14 million revolving line of credit with Webster Business Credit Corporation. Income before income tax expense was $475,596 compared to $323,269 reported a year ago. Net cash provided by operating activities was $277,377 compared to net cash used in operating activities of $29,030 reported a year ago.

Manhattan Bridge Capital, Inc. Reports Consolidated Earnings Results for the Year Ended December 31, 2014

Manhattan Bridge Capital, Inc. reported consolidated earnings results for the year ended December 31, 2014. For the year, the company reported net income of $0.29 per basic and diluted share or approximately $1,455,000, against $0.14 per basic and diluted share, or approximately $583,000 for the year ended December 31, 2013. This increase in net income was mainly due to an increase in operating income as a result of increased lending activity and minimal income tax expense for 2014 as a result of the company's intention to elect REIT status for 2014. Total revenue was approximately $2,904,000 compared to approximately $2,260,000 for the year ended December 31, 2013, an increase of $644,000 or 28.5%. The increase in revenue represents an increase in lending operations. In 2014, approximately $2,401,000 of the company's revenue represents interest income on secured, commercial loans that the company offers to small businesses compared to approximately $1,858,000 in 2013, and approximately $503,000 represents origination fees on such loans compared to approximately $402,000 in 2013. Income from operations was $1,461,147 compared to $977,419 reported a year ago. Income before income tax expense was $1,482,344 compared to $969,967 reported a year ago. Net cash provided by operating activities was $1,278,450 compared to $785,757 reported a year ago. Purchase of fixed assets was $19,088.

 

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