Dividend Increase Announcement
On April 15th, Manhattan Bridge Capital announced a dividend increase of 13.6%. This will increase their dividend per quarter from $0.11 to $0.125. It is payable on July 15th for shareholders of record on July 9th. The new quarterly dividend represents an annualized dividend amount of $0.50 per share as compared to the current annualized dividend amount of $0.44 per share.
Manhattan Bridge Capital Dividend Information
Annual Dividend: $0.50
Dividend Yield: 8.58%
Dividend Growth History: 1 years
Dividend Increase Effect On More Dividends
I am currently holding 6.448 shares of Manhattan Bridge Capital in the More Dividends portfolio. With this 13.6% increase, it will add an additional $0.38 to my projected annual dividend income and this doesn’t even take into account the compounding factor!
Manhattan Bridge Capital is actually the first company that I ever bought stock in. Sadly, it is also the first stock that I ever sold.
When I originally started the position, it paid a nice dividend and the feds interest rates were low. Once they started increasing the interest rates, I got scared and decided to recoup my initial investment and to leave the houses money on the table to play with.
Here we are now a few years later and I am still holding onto those few shares and have been allowing the dividend to compound.
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.
I know that it is way late but look for my March Dividend Income report to be published in the next couple of days.
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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