VANCOUVER, April 28 /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, 2011 is $0.1757 per share and
will be paid May 16, 2011.
First quarter net income decreased to $150,005.00 or $.1757 per share
compared with $180,400.00 or $.2137 per share for the same period in
2010. Revenue decreased to $198,125.00 from $224,354.00.
Return on common equity was 7.60% while return on preferred shares was 7.03%.
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 Ms. Constance Kartzmark at (604) 731-2899.