VANCOUVER, Jan. 31 /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
December 31, 2010 is $0.1671 per share and will be paid February 15,
Fourth quarter net income decreased 21.1% to $146,081.00 or $.1671 per
share compared with $185,112.00 or $.217 per share for the same period
in 2009. Revenue decreased 22.8% to $201,227.00 from $260,532.00.
Return on common equity was 7.22% while return on preferred shares was 6.68%.
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
SOURCE Mandate National Mortgage Corporation
For further information:
please contact Mr. Alan E.R. Long or Connie Kartzmark at (604) 731-2899.