Mandate National Mortgage Corporation - First quarter 2009 dividend



    VANCOUVER, April 23 /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 March 31, 2009 is $0.225 per share and will be paid May 15, 2009.
    First quarter net income decreased 3.2% to $181,352.00 or $.225 per share
compared with $187,242.00 or $.25 per share for the same period in 2008.
Revenue decreased 14.1% to $235,409 from $268,687.00.
    Return on common equity was 9.73% while return on preferred shares was
9.0%.

    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 ten 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, PRESIDENT
    AND CHIEF EXECUTIVE OFFICER
    





For further information:

For further information: Mr. Alan E.R. Long or Ms. Constance Kartzmark
at (604) 731-2899

Organization Profile

Mandate National Mortgage Corporation

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890