VANCOUVER, June 20, 2014 /CNW/ - On behalf of the Board of Directors of Mandate National Mortgage Corporation ("Mandate"), Mr. Alan Long, President, is pleased to announce that June 30, 2014 has been fixed as the record date for the second quarter 2014 dividend. The amount of the dividend will be announced by July 31, 2014 and paid by August 15, 2014.
Mandate operates as a mortgage investment corporation under the provisions of the Income Tax Act (Canada) and invests in a diverse portfolio of residential and commercial mortgages. Mandate has provided and intends to continue to provide a high dividend yield to its shareholders through its prudent mortgage lending policy. Mandate has been among the top performing mortgage funds for the past twenty five years as reported in the financial press.
Mandate regularly distributes all of its earned income to its shareholders by way of dividend. Mandate's Common and Preferred shareholders have the option to have these dividends be reinvested in additional shares, thus increasing the overall yield. Mandate's Common and Preferred Shares are fully R.R.S.P.. R.R.I.F. and TFSA eligible and its primary objective is to continue to provide an above average yield to its shareholders while expanding its mortgage portfolio through the raising of additional capital.
ON BEHALF OF THE BOARD OF DIRECTORS
"ALAN E.R. LONG"
SOURCE Mandate National Mortgage Corporation