Business
MCAN Mortgage Corporation Announces Strong Q1 2021 Results and Declares $0.34 Cash Dividend Per Share
MCAN Mortgage Corporation Announces Strong Q1 2021 Results and Declares $0.34 Cash Divide...
About this update from Mcan Mortgage Corporation
[{"type":"text","content":"\n \n \n \n MCAN Mortgage Corporation Announces Strong Q1 2021 Results and Declares $0.34 Cash Dividend Per Share\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnbcc{\nBORDER-TOP-COLOR:; BORDER-COLLAPSE: COLLAPSE; BORDER-LEFT-COLOR:; BORDER-BOTTOM-COLOR:; BORDER-RIGHT-COLOR:\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n ,\n \n May 11, 2021\n \n /CNW/ - MCAN Mortgage Corporation (\"MCAN\", the \"Company\" or \"we\") (TSX: MKP) reported strong net income for the first quarter ended\n \n March 31, 2021\n \n of\n \n $15\n \n .9 million (\n \n $0.64\n \n earnings per share) compared to a net loss of\n \n $9.7 million\n \n (\n \n $0.40\n \n loss per share) for the same period in the prior year.  Results for the first quarter of 2021 were impacted by an increase in fair value gains on our marketable securities, increased equity income from MCAP and growth in our core business compared to the first quarter of 2020.\n \n \n \n \n \n \n \n \n \n The Board of Directors (the \"Board\") declared a quarterly cash dividend of\n \n $0.34\n \n per share to be paid June 30, 2021 to shareholders of record as of June 15, 2021.\n \n \n \n \"We continue to grow our mortgage portfolio through the pandemic in response to the housing and mortgage market dynamics which were fuelled by reduced interest rates and remote working,\" said\n \n Karen Weaver\n \n , President and Chief Executive Officer.  \"Our single family monthly mortgage originations were the highest in our history during the first quarter and ahead of expectations.  I have to thank the entire team at MCAN for their hard work in executing our day-to-day business, serving our customers and driving our growth.  To provide funding for additional growth of our business, we announced a share rights offering to our shareholders of record at the close of business on\n \n May 12\n \n , 2021.  ...