Manhattan Bridge Capital, Inc. Announces Payment of Quarterly Dividend
September 24 2020 - 7:00AM
Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) announced today that,
in accordance with the board approved dividend declared on July 30,
2020, a cash dividend of $0.10 per share will be paid to all
shareholders of record on October 9, 2020. The dividend will be
paid on October 15, 2020.
Assaf Ran, Chairman of the Board and CEO, stated,
“As we believe the worst impact of COVID-19 is behind us, we are
proud to announce that we have kept our track record of no
defaults. We believe that we belong to a select group of REITs
that did not pause or terminate dividend payments due to COVID-19.
I hope that market conditions will allow us to safely return to a
growth pattern in the near future,” added Mr. Ran.
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 that we hope that market conditions
will allow us to safely return to a growth pattern in the near
future, 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, 2019 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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