An update from MCAN Mortgage ( (TSE:MKP) ) is now available.
MCAN Financial Group reported a slight increase in net income for 2024, driven by higher income from MCAP and improved securitized mortgage spread income, despite facing challenges such as higher operating expenses and unrealized fair value losses. The company declared a 5% increase in its regular cash dividend, reflecting confidence in its strategic positioning in the Canadian residential mortgage market. Despite a challenging interest rate environment, MCAN maintained strong origination and renewal volumes, and its investment in MCAP remains a key success driver.
More about MCAN Mortgage
MCAN Mortgage Corporation, operating as MCAN Financial Group, is a company in the mortgage investment industry, primarily focusing on residential and commercial mortgage products. It is active in the Canadian market, providing a diversified lending portfolio and maintaining a strong liquidity and capital position.
YTD Price Performance: -1.20%
Average Trading Volume: 49,536
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$705.3M
See more insights into MKP stock on TipRanks’ Stock Analysis page.