Dividend Increase Announcement
On October 26th, Manhattan Bridge Capital announced a dividend increase of 10%. This will increase their dividend per quarter from $0.10 to $0.11. It is payable on January 15th for shareholders of record on December 31st. The new quarterly dividend represents an annualized dividend amount of $0.44 per share as compared to the current annualized dividend amount of $0.40 per share.
Manhattan Bridge Capital Dividend Information
Annual Dividend: $0.44
Dividend Yield: 10.45%
Dividend Increase Effect On More Dividends
I am currently holding 6.316 shares of Manhattan Bridge Capital in the More Dividends portfolio. With this 10% increase it will add an additional $0.25 to my projected annual dividend income and this doesn’t even take into account the compounding factor!
Manhattan Bridge Capital was actually the first company that I ever bought stock in. If I remember correctly, initially I opened my position with 120 shares. Unfortunately, I was still a new investor and when the Fed looked like they were going to raise interest rates back in 2015 I decided that it would be best to sell the stock. For the record, I regret making this sell. I ended up selling enough to cover my cost basis but decided to let the rest of the shares sit there.
At the time, I was anticipating buying back into the position but as of yet I have not done that. So for now, I will continue to let these few shares compound on themselves until I decide what to do with them.
Regardless of how large or small, I love all dividend increases. That is how we end up with More Dividends 😉
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!
-Jason from MoreDividends.com
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