Business

MCAN MORTGAGE CORPORATION DECLARES SECOND QUARTER DIVIDEND

May 12, 2011 (Canada NewsWire Group) -- Stock market symbol TSX: MKP TORONTO, May 12 /CN...

articleMcan Mortgage CorporationMay 12, 20114/company/mcan-mortgage-corporation/news/mcan-mortgage-corporation-declares-second-quarter-dividend
MCAN MORTGAGE CORPORATION DECLARES SECOND QUARTER DIVIDEND

About this update from Mcan Mortgage Corporation

[{"type":"text","content":"\n\n\n May 12, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nStock market symbol\nTSX: MKP\n\n\nTORONTO, May 12 /CNW/ - MCAN Mortgage Corporation announced today that\n it has declared a second quarter dividend of $0.27 per share to be paid\n June 30, 2011 to shareholders of record as of June 2, 2011.\n\n\nFurther Information: \n\n\nMCAN is a public company listed on the Toronto Stock Exchange ("TSX")\n under the symbol MKP and is a reporting issuer in all provinces and\n territories in Canada. MCAN also qualifies as a mortgage investment\n corporation ("MIC") under the Income Tax Act (Canada) (the "Tax Act"). \n\n\nThe Company's objective is to generate a reliable stream of income by\n investing its funds in a portfolio of mortgages (including single\n family residential, residential construction, non-residential\n construction and commercial loans), as well as other types of loans and\n investments, real estate and securitization investments. MCAN employs\n leverage by issuing term deposits eligible for Canada Deposit Insurance\n Corporation ("CDIC") deposit insurance up to a maximum of five times\n capital (on a non-consolidated tax basis) as permitted by the Tax Act.\n The term deposits are sourced through a network of independent\n financial agents. As a MIC, MCAN is entitled to deduct from income for\n tax purposes 50% of capital gains dividends and 100% of other dividends\n paid. Such dividends are received by the shareholders as...

More updates from Mcan Mortgage Corporation