GREAT NECK, NY, May 07, 2020 (GLOBE NEWSWIRE) – Manhattan Bridge Capital, Inc. (Nasdaq: TO LEND) announced today that its Board of Directors has declared a quarterly dividend of $ 0.10 per share payable to all shareholders of record on July 10, 2020. The dividend will be paid on July 15, 2020.
Assaf Ran, Chairman of the Board and CEO, said: “As we face the dynamic consequences of the COVID-19 crisis, we believe that $ 0.10 is the appropriate dividend for the second quarter. At this point our problems seem manageable, but we’re ready in case conditions get worse. “
This press release and the statements of our representatives relating thereto contain or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements which are not statements of historical fact may be deemed to be forward-looking statements. . Without limiting the generality of the foregoing, words such as “plan”, “project”, “potential”, “seek”, “may”, “will”, “expect”, “believe”, “anticipate” “,” Intend, “” could “,” estimate “or” continue “are intended to identify forward-looking statements. For example, when discussing the belief that at this point our problems seem manageable and we are prepared in case conditions worsen, we use forward-looking statements. Readers are cautioned that certain important factors may affect the actual results of the Company and could cause such results to differ materially from any forward-looking statements that may be made in this press release. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Actual results may differ materially from those projected, expressed or implied in forward-looking statements due to various factors, including, but not limited to the following: (i) our loan origination activities, revenues and our profits are limited by the funds available; (ii) we operate in a highly competitive market and competition may limit our ability to provide loans at favorable interest rates; (iii) our CEO is essential to our business and our future success may depend on our ability to retain him; (iv) if we overestimate the returns on our loans or incorrectly value the collateral securing the loan, we may incur losses; (v) we may be the subject of “lender liability” claims; (vi) our due diligence may not uncover all of a borrower’s responsibilities or other risks to their business; (vii) concentration of borrowers could lead to significant losses; (viii) we may choose to make distributions in our own stock, in which case you may be required to pay income taxes in addition to any cash dividends you receive and (ix) if the effect of the COVID pandemic -19 on our business is bigger than expected. The risk factors contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019 filed with the Securities and Exchange Commission identify important factors that could cause such differences. These forward-looking statements speak only as of the date of this press release, and we caution potential investors not to place undue reliance on such statements. We assume no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.