manhattan bridge capital inc (LOAN) Key Developments
Manhattan Bridge Capital, Inc. Announces Resignation of Phillip Michals from Board of Directors
Apr 2 14
Effective April 2, 2014, Phillip Michals resigned from the Manhattan Bridge Capital, Inc.'s Board of Directors for personal reasons.
Manhattan Bridge Capital, Inc. Reports Consolidated Earnings Results for the Year Ended December 31, 2013
Mar 24 14
Manhattan Bridge Capital, Inc. reported consolidated earnings results for the year ended December 31, 2013. For the year, the company reported total revenues of $2,259,547 against $1,815,567 for the same period a year ago. Income from operations was $977,419 against $664,382 for the same period a year ago. Income before income tax expense was $969,967 against $691,930 for the same period a year ago. Net income was $582,967 or $0.14 per diluted share against $388,610 or $0.09 per diluted share for the same period a year ago. Net cash provided by operating activities was $785,757 against $533,399 for the same period a year ago. This profit increase is primarily attributable to an increase in revenue, offset by increases in interest expense and in income tax expense. The increase in revenue represents an increase in lending operations.
Manhattan Bridge Capital Declares Quarterly Dividend, Payable on May 20, 2014, August 20, 2014, November 20, 2014 and February 20, 2015
Feb 4 14
Manhattan Bridge Capital, Inc. announced that it would pay a $0.02 per share dividend to shareholders of record on May 15, 2014, August 15, 2014, November 14, 2014 and February 13, 2015 with pay dates on May 20, 2014, August 20, 2014, November 20, 2014 and February 20, 2015.
Manhattan Bridge Capital, Inc. Announces Payment of Fourth Quarterly Dividend Payable on February 20, 2014
Feb 3 14
Manhattan Bridge Capital, Inc. announced that in accordance with the dividend program that was announced on May 2, 2013, a cash dividend of $0.01 per share will be paid to all shareholders of record on February 14, 2014 with pay date on February 20, 2014.
Manhattan Bridge Capital, Inc. Increases its Revolving Line of Credit to $7 Million
Dec 16 13
Manhattan Bridge Capital, Inc. announced that its Revolving Line of Credit with Sterling National Bank has been increased to up to $7 million, $2 million more than the previous limit. The terms of the increased line are similar to the terms of the original line established on May 2, 2012, which currently provides for an interest rate of 6% per year.