Last C$14.45 CAD
Change Today -0.38 / -2.56%
Volume 68.6K
MKP On Other Exchanges
Symbol
Exchange
Toronto
OTC US
As of 4:00 PM 09/15/14 All times are local (Market data is delayed by at least 15 minutes).

mcan mortgage corp (MKP) Snapshot

Open
C$14.66
Previous Close
C$14.83
Day High
C$14.73
Day Low
C$14.34
52 Week High
09/4/14 - C$15.29
52 Week Low
10/9/13 - C$11.35
Market Cap
298.8M
Average Volume 10 Days
29.2K
EPS TTM
C$1.64
Shares Outstanding
20.7M
EX-Date
09/12/14
P/E TM
8.8x
Dividend
C$1.12
Dividend Yield
7.75%
Current Stock Chart for MCAN MORTGAGE CORP (MKP)

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mcan mortgage corp (MKP) Details

MCAN Mortgage Corporation operates as a mortgage investment corporation in Canada. The company invests its funds in a portfolio of mortgages, including single family residential, residential construction, non-residential construction, and commercial loans, as well as other types of loans and investments, real estate, securitization investments, and marketable securities in the form of corporate bonds, real estate investment trusts, and exchange-traded funds. The company was formerly known as MCAP Inc. and changed its name to MCAN Mortgage Corporation in September 2006. MCAN Mortgage Corporation was founded in 1991 and is headquartered in Toronto, Canada.

50 Employees
Last Reported Date: 08/13/14
Founded in 1991

mcan mortgage corp (MKP) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$323.4K
Chief Financial Officer and Vice President
Total Annual Compensation: C$111.6K
Vice President of Operations
Total Annual Compensation: C$150.0K
Chief Investment Officer and Vice President
Total Annual Compensation: C$227.0K
Chief Risk Officer and Vice President
Total Annual Compensation: C$175.0K
Compensation as of Fiscal Year 2013.

mcan mortgage corp (MKP) Key Developments

MCAN Mortgage Corp. Declares Third Quarter Regular Dividend, Payable September 30, 2014; Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2014

MCAN Mortgage Corp. declared third quarter regular dividend of $0.28 per share to be paid September 30, 2014 to shareholders of record as of September 16, 2014. The company reported financial results for the second quarter and six months ended June 30, 2014. Net income for the second quarter of 2014 was $6.1 million, a 36% increase from $4.5 million in 2013. Earnings per share were $0.30, a 20% increase from $0.25 in the prior year. Return on average shareholders' equity was 11.01% for the quarter, up from 9.91% in the second quarter of 2013. The increase in net income was primarily due to higher mortgage interest income and interest on financial investments and other loans, a smaller loss on securitization assets and whole loan gains on sale earned in the current year. These increases were partially offset by higher term deposit interest and expenses and lower income from equity investment in MCAP Commercial LP in the current year, in addition to higher operating expenses as scale of operations has increased since the acquisition of Xceed Mortgage Corporation in the third quarter of 2013. The net investment loss from securitization assets was $110,000 in the second quarter of 2014 compared to a loss of $1.6 million in the prior year, net of a $365,000 negative fair market value adjustment on derivative financial instruments. Year to date net income increased to $13.5 million from $8.6 million in the prior year, primarily due to the same reasons noted above for the increase in quarterly income. For the year to date, earnings per share were $0.66, up from $0.46 in the prior year. Return on average shareholders' equity was 12.24% for the year to date, up from 9.34% in the prior year.

MCAN Mortgage Corp. to Report Q2, 2014 Results on Aug 13, 2014

MCAN Mortgage Corp. announced that they will report Q2, 2014 results After-Market on Aug 13, 2014

MCAN Mortgage Corp. Reports Earnings Results for the First Quarter Ended March 31, 2014; Declares Second Quarter Dividend Payable June 30, 2014

MCAN Mortgage Corporation reported earnings results for the first quarter ended March 31, 2014. For the quarter, the company reporetd that net income was $7.4 million, an 83% increase from $4.0 million in 2013. Earnings per share were $0.36, a 71% increase from $0.21 (restated) in the prior year. Return on average shareholders' equity was 13.52% for the quarter compared to 8.77% (restated) in the first quarter of 2013. The increase in net income was primarily due to higher mortgage interest income, higher income from equity investment in MCAP Commercial LP, recoveries of provisions for credit losses and the gain from the partial sale of investment in MCAP. These increases were partially offset by higher operating expenses, as scale of operations has increased since the acquisition of Xceed Mortgage Corporation in the third quarter of 2013. Mortgage interest income increased to $12.4 million in the current year from $10.6 million in the prior year, primarily due to a $108 million increase in the average mortgage portfolio from $733 million in 2013 to $841 million in 2014. The net investment loss from securitization assets was $219,000 in the first quarter of 2014 compared to a loss of $602,000 in the prior year, although it included a $464,000 negative fair market value adjustment on derivative financial instruments. The Board of Directors declared a second quarter regular dividend of $0.28 per share to be paid June 30, 2014 to shareholders of record as of June 16, 2014.

 

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Valuation MKP Industry Range
Price/Earnings 8.3x
Price/Sales 5.6x
Price/Book 1.3x
Price/Cash Flow 8.4x
TEV/Sales NM Not Meaningful
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