|By PR Newswire||
|July 30, 2014 07:09 PM EDT||
VANCOUVER, July 30, 2014 /CNW/ - On behalf of the Board of Directors of Mandate National Mortgage Corporation ("Mandate"), Mr. Alan E. R. Long, President, is pleased to announce the dividend payment rate to shareholders of record as at June 30, 2014 is $0.13 per share and will be paid August 15, 2014.
Revenue for the three months ending June 30, 2014 increased to $164,682 from $151,251 in 2013. Second quarter net income decreased to $83,493 or $.13 per share compared with $106,646 or $.16 per share for the same period in 2013. The increase in revenues was due to an increase in fee income whereas net earnings declined due to a write off of bad debt relating to one mortgage.
Annualized return on Common equity was 5.63% while return on Preferred shares was 5.19%.
Mandate operates as a mortgage investment corporation under the provisions of the Income Tax Act (Canada) and invests in a diverse portfolio of residential and commercial mortgages. Mandate has provided and intends to continue to provide a dividend yield to its shareholders through its prudent mortgage lending policy. It has been among the top performing mortgage funds for the past twenty years as reported in the financial press. Mandate distributes quarterly all of its earned income to its shareholders by way of dividend.
ON BEHALF OF THE BOARD OF DIRECTORS
"Alan E.R. Long"___________________________________
ALAN E.R. LONG, PRESIDENT
and CHIEF EXECUTIVE OFFICER
SOURCE Mandate National Mortgage Corporation
SYS-CON Events announced today Sematext Group, Inc., a Brooklyn-based Performance Monitoring and Log Management solution provider, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Sematext is a globally distributed organization that builds innovative Cloud and On Premises solutions for performance monitoring, alerting and anomaly detection (SPM), log management and analytics (Logsene), search analytics (S...
Apr. 21, 2015 09:30 AM EDT Reads: 3,689
Apr. 21, 2015 09:15 AM EDT Reads: 4,577
Apr. 21, 2015 09:00 AM EDT Reads: 5,051
Apr. 21, 2015 09:00 AM EDT Reads: 1,261
Apr. 21, 2015 09:00 AM EDT Reads: 2,726
Apr. 21, 2015 09:00 AM EDT Reads: 2,391
Apr. 21, 2015 08:45 AM EDT Reads: 2,539
Apr. 21, 2015 08:30 AM EDT Reads: 2,104
Apr. 21, 2015 08:30 AM EDT Reads: 5,699
Apr. 21, 2015 08:30 AM EDT Reads: 2,285
Apr. 21, 2015 08:15 AM EDT Reads: 323
Apr. 21, 2015 08:15 AM EDT Reads: 3,775
SYS-CON Media announced today that Blue Box as launched a popular blog feed on Cloud Computing Journal. Cloud Computing Journal aims to help open the eyes of Enterprise IT professionals to the economics and strategies that utility/cloud computing provides. Blue Box Cloud gives you unequaled agility, without the burden of designing, deploying and managing your own infrastructure. It’s the right choice when public cloud just won’t do. Blue Box Cloud is a managed Private Cloud as a Service (...
Apr. 21, 2015 08:00 AM EDT Reads: 1,439
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
Apr. 21, 2015 08:00 AM EDT Reads: 4,973
Apr. 21, 2015 08:00 AM EDT Reads: 905