Press Releases

MCAN Mortgage Corporation Reports Third Quarter Earnings

11/6/2014 – PDF

Toronto, Ontario – November 6, 2014. MCAN Mortgage Corporation’s (“MCAN”, the “Company” or “we”) net income for the third quarter of 2014 was $4.9 million, down from $9.3 million (on a restated basis for our change in income tax accounting noted below) in 2013. Earnings per share were $0.23, down from $0.46 (restated) in the prior year. Return on average shareholders’ equity was 8.74% for the quarter, down from 18.40% (restated) in the third quarter of 2013.

MCAN Mortgage Corporation Reports Second Quarter Earnings

08/13/2014 – PDF

Toronto, Ontario – August 13, 2014. MCAN Mortgage Corporation’s (“MCAN”, the “Company” or “we”) net income for the second quarter of 2014 was $6.1 million, a 36% increase from $4.5 million (on a restated basis for our change in income tax accounting noted below) in 2013. Earnings per share were $0.30, a 20% increase from $0.25 (restated) in the prior year. Return on average shareholders’ equity was 11.01% for the quarter, up from 9.91% (restated) in the second quarter of 2013.

MCAN Mortgage Corporation Announces Final Voting Results

05/8/2014 – PDF

TORONTO, May 8, 2014 /CNW/ - MCAN Mortgage Corporation ("MCAN" or the "Company") today announced the final director election results from MCAN's 2014 Annual General Meeting of Shareholders held in Toronto, Ontario on May 7, 2014.

MCAN Mortgage Corporation Reports First Quarter Earnings

05/7/2014 – PDF

Toronto, Ontario – May 7, 2014. MCAN Mortgage Corporation’s (“MCAN”, the “Company” or “we”) net income for the first quarter of 2014 was $7.4 million, an 83% increase from $4.0 million (on a restated basis for our change in income tax accounting noted below) in 2013. Earnings per share were $0.36, a 71% increase from $0.21 (restated) in the prior year. Return on average shareholders’ equity was 13.52% for the quarter compared to 8.77% (restated) in the first quarter of 2013.

KingSett Acquires Stake in MCAN Mortgage Corporation

03/18/2014 – PDF

Toronto, Ontario, March 18, 2014 - KingSett Capital and MCAN Mortgage Corporation (“MCAN”) are pleased to announce that today the KingSett Canadian Real Estate Income Fund LP has acquired 1,403,999 common shares of MCAN. The shares represent approximately 7% of the outstanding common shares of MCAN and are being purchased strictly for investment purposes.

MCAN Mortgage Corporation Reports Fourth Quarter Earnings and 2013 Annual Results

02/25/2014 – PDF

Toronto, Ontario – February 25, 2014. MCAN Mortgage Corporation’s (“MCAN”, the “Company” or “we”) net income for the fourth quarter of 2013 increased to $11.0 million from $7.3 million in 2012, while earnings per share increased to $0.54 from $0.40 in the prior year. The increase was primarily due to higher mortgage interest income, whole loan gain on sale income and securitization income, and a gain on dilution of our equity investment in MCAP Commercial LP (“MCAP”).