On October 23rd, Manhattan Bridge Capital announced a dividend increase of 7.3%. This will increase their dividend from $0.1025 to $0.11. This dividend is payable on Jan 15th for shareholders of record on December 29th.
It is always great news when you find out that one of the companies that you own has decided to increase its dividend. Manhattan Bridge Capital was actually the first company that I decided to buy stock in and it turned out to be a great investment. Originally, I believe that I purchased 120 shares but unfortunately I did not hold on to my whole position. Later that year I decided to sell a large part of my position but not before I was able to receive a couple of dividend payments plus I collected some capital gains when I sold it.
Anyways, the few shares that have remained continue to sit there and slowly compound onto itself. I currently have no intentions of selling my position in Manhattan Bridge Capital. This increase will only add a few pennies to my projected annual dividend income but every little penny will help!
With this increase it will add $0.04 to my quarterly dividend and $0.16 to my projected annual dividend income. Not bad considering I didn’t have to do anything to get it.
Do you currently hold any stock in Manhattan Bridge Capital? What do you think of this dividend increase? Just let me know in the comments.
As always I look forward to reading all of your comments and questions, until then….. happy investing!
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