VANCOUVER, March 19 /CNW/ - On behalf of the Board of Directors of Mandate National Mortgage Corporation ("Mandate"), Mr. Alan Long, President, is pleased to announce that March 31, 2010 has been fixed as the record date for the first quarter 2010 dividend. The amount of the dividend will be announced by April 30, 2010 and paid by May 14, 2010.
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. Mandate has been among the top performing mortgage funds for over fifteen years as reported in the financial press.
Mandate regularly distributes all of its earned income to its shareholders by way of dividend. Most of Mandate's Common shareholders have requested that these dividends be reinvested in additional Mandate Common shares, thus increasing the overall yield. Mandate's Common Shares are fully R.R.S.P. eligible and its primary objective is to continue to provide an above average yield to its shareholders while expanding its mortgage portfolio through the raising of additional capital.
ON BEHALF OF THE BOARD OF DIRECTORS
ALAN E.R. LONG
SOURCE Mandate National Mortgage Corporation
For further information: For further information: please contact Mr. Alan E.R. Long or Ms. Constance Kartzmark at (604) 731-2899