VANCOUVER, July 30, 2013 /CNW/ - On behalf of the Board of Directors of
Mandate National Mortgage Corporation ("Mandate"), Mr. Alan E. R. Long,
President, is pleased to announce the dividend payment rate to
shareholders of record as at June 30, 2013 is $0.1615 per share and
will be paid August 15, 2013.
Revenue for the three months ending June 30, 2013 decreased 31.1% to
$151,251 from $219,579 in 2012. Second quarter net income decreased
8.4% to $106,646 or $.162 per share compared with $116,381 or $.163 per
share for the same period in 2012.
Return on Common equity was 7% while return on Preferred shares was 6.5%.
Mandate operates as a mortgage investment corporation under the
provisions of the Income Tax Act (Canada) and invests in a diverse portfolio of residential and commercial
mortgages. Mandate has provided and intends to continue to provide a
high dividend yield to its shareholders through its prudent mortgage
lending policy. It has been among the top performing mortgage funds
for the past twenty years as reported in the financial press. Mandate
distributes quarterly all of its earned income to its shareholders by
way of dividend.
ON BEHALF OF THE BOARD OF DIRECTORS
"Alan E.R. Long"
ALAN E.R. LONG, PRESIDENT
and CHIEF EXECUTIVE OFFICER
SOURCE: Mandate National Mortgage Corporation
For further information:
please contact Mr. Alan E.R. Long or Ms. Constance Kartzmark at (604) 731-2899.