Manhattan Bridge Capital's $0.09/Share Dividend Offers 6.8% Yield

Manhattan Bridge Capital Inc (NASDAQ: LOAN) revealed that its board has a quarterly cash approved $0.09 a share. On an annualized basis, this worked out to $0.36 a share. The dividend provided 6.8 percent yield.

Manhattan Bridge said that it has fixed July 8 for determining the eligible shareholders to get the dividend. The company indicated that the dividend would be paid on July 15.

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The company has been involved in boosting the dividend rate for the second straight years. Its dividend payout ratio was 94 percent.

At time of writing, the stock was up 4.51 percent on the day, trading at $5.56.