MCAN Mortgage Reports Solid Q1 Results

MCAN Mortgage (TSE:MKP) has released an update.

MCAN Mortgage Corporation maintains a steady Q1 2024 performance with a net income of $23.2 million, nearly mirroring last year’s results, and announces a regular cash dividend of $0.39 per share. The company’s uninsured residential mortgage portfolio reached a record high of $1 billion, reflecting robust growth and renewal volumes. Additionally, a successful overnight marketed offering raised $28.8 million, underscoring strong investor demand and setting the stage for future expansion in residential and construction lending.

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