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MCAN Mortgage Corporation Announces Fourth Quarter and 2019 Results and Increase to Quarterly Dividend

Toronto, Ontario – February 26, 2020.  MCAN Mortgage Corporation (“MCAN”, the “Company” or “we”) (TSX: “MKP”) reported net income of $10.6 million ($0.44 per share) for the fourth quarter ended December 31, 2019, an increase of 197% from $3.5 million ($0.15 per share) in the fourth quarter of 2018. In the fourth quarter of 2019, we recorded a $2.1 million net gain on securities compared to a $4.2 million net loss on securities in the fourth quarter of 2018. Year to date, we reported net income of $48.3 million ($2.01 per share), an increase of 33% from $36.3 million ($1.54 per share) for the same period in 2018.  The Board of Directors (the “Board”) declared an increase to the quarterly dividend from $0.32 per share to $0.34 per share on February 26, 2020 to be paid March 30, 2020 to shareholders of record as of March 13, 2020.

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