Manhattan Bridge Capital, Inc. Declares Quarterly Dividend
09 February 2022 - 11:00PM
Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) announced today that
its board of directors has declared a quarterly dividend of $0.125
per share to be paid to all shareholders of record on April 8,
2022. The dividend will be paid on April 15, 2022.
Assaf Ran, Chairman of the Board and CEO,
stated, “As I have communicated in previous press releases, the
July 2021 stock offering created a temporary burden on our dividend
distribution, as a result of the fact that we paid dividends to new
shareholders that participated in the offering before we had an
opportunity to deploy the new funds received in that offering. At
this point, I believe that our dividend rate is back to within a
comfortable range of a return on investment of the funds we
deploy.”
About Manhattan Bridge Capital,
Inc.
Manhattan Bridge Capital, Inc. offers short-term
secured, non–banking loans (sometimes referred to as ‘‘hard money’’
loans) to real estate investors to fund their acquisition,
renovation, rehabilitation or improvement of properties located in
the New York metropolitan area, including New Jersey and
Connecticut, and in Florida. We operate the website:
https://www.manhattanbridgecapital.com.
Forward Looking Statements
This press release and the statements of our
representatives related thereto contain or may contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Statements that are not
statements of historical fact may be deemed to be forward-looking
statements. Without limiting the generality of the foregoing, words
such as “plan,” “project,” “potential,” “seek,” “may,” “will,”
“expect,” “believe,” “anticipate,” “intend,” “could,” “estimate,”
or “continue” are intended to identify forward-looking statements.
For example, when we discuss our belief that our dividend rate is
back to within a comfortable range of a return on investment of the
funds we deploy, we are using forward-looking statements. Readers
are cautioned that certain important factors may affect the
Company’s actual results and could cause such results to differ
materially from any forward-looking statements that may be made in
this news release. Forward-looking statements are not guarantees of
future performance and involve risks and uncertainties. Actual
results may differ materially from those projected, expressed or
implied in the forward-looking statements as a result of various
factors, including but not limited to the following: (i) our loan
origination activities, revenues and profits are limited by
available funds; (ii) we operate in a highly competitive market and
competition may limit our ability to originate loans with favorable
interest rates; (iii) our Chief Executive Officer is critical to
our business and our future success may depend on our ability to
retain him; (iv) if we overestimate the yields on our loans or
incorrectly value the collateral securing the loan, we may
experience losses; (v) we may be subject to “lender liability”
claims; (vi) our due diligence may not uncover all of a borrower’s
liabilities or other risks to its business; (vii) borrower
concentration could lead to significant losses; (viii) we may
choose to make distributions in our own stock, in which case you
may be required to pay income taxes in excess of the cash dividends
you receive and (ix) if the effect of the COVID-19 pandemic on our
business is greater than anticipated. The risk factors contained in
our Annual Report on Form 10-K for the fiscal year ended December
31, 2020 filed with the Securities and Exchange Commission identify
important factors that could cause such differences. These
forward-looking statements speak only as of the date of this press
release, and we caution potential investors not to place undue
reliance on such statements. We undertake no obligation to publicly
update any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
applicable law.
SOURCE: Manhattan Bridge Capital, Inc.
Contact:
Assaf Ran, CEO
(516) 444-3400
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