Business
MCAN Mortgage Corporation Announces Strong Q3 2020 Results and Declares Q4 2020 Dividend
MCAN Mortgage Corporation Announces Strong Q3 2020 Results and Declares Q4 2020 Dividend ...
About this update from Mcan Mortgage Corporation
[{"type":"text","content":"\n \n \n \n MCAN Mortgage Corporation Announces Strong Q3 2020 Results and Declares Q4 2020 Dividend\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: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n TORONTO, Nov. 9, 2020\n \n \n \n \n \n TORONTO\n \n ,\n \n Nov. 9, 2020\n \n /CNW/ - MCAN Mortgage Corporation (\"MCAN\", the \"Company\" or \"we\") (TSX: MKP) reported higher net income for the third quarter ended\n \n September 30, 2020\n \n of\n \n $22\n \n .7 million (\n \n $0.92\n \n earnings per share) compared to\n \n $14.6 million\n \n (\n \n $0.60\n \n earnings per share) for the same period in the prior year. For the nine months ended\n \n September 30, 2020\n \n , MCAN reported net income of\n \n $20\n \n .8 million (\n \n $0.85\n \n earnings per share), compared to net income of\n \n $37\n \n .7 million (\n \n $1.57\n \n earnings per share) in the prior year.\n \n \n \n \n \n \n \n \n \n The Board of Directors (the \"Board\") declared a fourth quarter dividend of\n \n $0.34\n \n per share to be paid January 4, 2021 to shareholders of record as of December 15, 2020.\n \n \n \n \n CEO Commentary\n \n \n \n \n \"MCAN's business performed very well as we continued to grow our mortgage portfolio in response to the housing and mortgage market dynamics which were fueled by reduced interest rates and the COVID-19 impact,\" said\n \n Karen Weaver\n \n , President and Chief Executive Officer. \"The entire team at MCAN worked diligently to execute our day-to-day business, serve our customers and achieve our growth. We expect to continue our profitable growth in our mortgage assets and in our marketable and non-marketable securities and remain focused on guiding the company through the impacts of COVID-19 while executing our ...