04:08 PM EST - MCAN Mortgage Corp. : reported net income for the first quarter of $6.4 million or $0.45 per share, up from $5.1 million or $0.36 per share in the year-ago quarter. Net investment income for the first quarter increased to $7.7 million from $6.1 million a year ago. Mortgage interest income decreased from $7.5 million to $6.7 million due to a $32-million decrease in the average mortgage portfolio size and a 0.14-per-cent decrease in the average mortgage yield. The company also declared a second quarter dividend of $0.25 per share to be paid June 30 to shareholders of record on June 15. MCAN Mortgage Corp.
shares T.MKP are trading up $0.17 at $10.67.
