VANCOUVER, Oct. 26 /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
September 30, 2007 is $0.24 per share and will be paid November 15, 2007.
Third quarter net income increased 17.7% to $183,761.00 or $.24 per share
compared with $151,191.00 or $.22 per share for the same period in 2006.
Revenue increased 14.5% to $227,499.00 from $194,430.00.
Return on common equity was 10.88% while return on preferred shares was
Effective September 1, 2007 the Company officially changed its Trustee
and Transfer Agent from CIBC Mellon Trust Company to The Investment
Administration Solution Inc. ("IAS"). Accordingly, there will no longer be
share certificates issued. All future purchases, redemptions and Dividend
Re-investment plans will be reflected on quarterly statements mailed by IAS.
If you are holding original certificates, kindly return to the Company for
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
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 Mr. Richard Gasten at