MCAN Mortgage Corp on Monday announced a fourth-quarter regular cash dividend of CAD 0.38 per share, which will be paid on January 2nd 2024 to shareholders of record as of December 15th.
For the third quarter, the company reported a net income of CAD 18.5 million (CAD 0.53 per share), or an increase from CAD 11.7 million (CAD 0.37 per share) in the same period of 2022.
MCAN Mortgage Corp’s return on average shareholders’ equity was reported at 14.20% in the third quarter, compared with 10.52% in the same period a year earlier.
“Our diversified portfolio continues to deliver strong results despite having to closely navigate and monitor market conditions, credit quality, geopolitical conflicts and other economic factors that could impact our business. It has been a very challenging economic environment, yet while the economy will continue to change and provide uncertainty, our entire MCAN team has contributed to successfully growing our business and improving all aspects of our operations,” Derek Sutherland, Interim Chief Executive Officer, said in a press release.
“Looking ahead, we will continue to focus on the growth and profitability of our business to drive value for all our stakeholders. Our embedded culture of being vigilant and proactively managing the business through market volatility forms the roots of our exceptional performance.”
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