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  • Madison Pacific Properties (MPC) has announced operational results for the nine months ended May 31, 2022
  • The company reported net income of $37.3 million for the nine months ended May 31, 2022, compared to the 2021 figure of $37.0 million for the same period
  • It has cash flows of $7.4 million compared to $7.6 million in the same period in 2021
  • Madison Pacific has also announced a $.0525 per share dividend on Class B voting common shares, and Class C non-voting shares payable September 6, 2022
  • Madison Pacific Properties is a real estate company
  • Madison Pacific Properties Inc. opened trading at $6.51 per share

Madison Pacific Properties (MPC) has announced operational results for the nine months ended May 31, 2022.

The results reported are in accordance with International Financial Reporting Standards (IFRS) for public companies.

Madison Pacific made a net income of $37.3 million for the nine months ended May 31, 2022, compared to the 2021 figure of $37.0 million for the same period.

It has cash flows from operating activities before changes in non-cash operating balances of $7.4 million compared to $7.6 million in the same period in 2021.

Income per share stands at $0.60, compared to $0.58 in the same period in 2021. Included in net income is an after-tax net gain from the fair value adjustment on investment properties of $17.1 million, compared to $26.8 million for the same period in 2021.

Madison Pacific currently owns approximately $718 million in investment and development properties, including the company’s proportionate share of properties held through jointly-controlled partnerships.

The company’s investment portfolio comprises 54 properties with approximately 1.9 million rentable sq. ft. of industrial and commercial space and a 50 per cent interest in a 54-unit multi-family rental property.

Furthermore, Madison Pacific has announced a $.0525 per share dividend on Class B voting common shares and Class C non-voting shares payable on September 6, 2022, to shareholders of record on August 15, 2022.

Madison Pacific Properties Inc is a real estate company which owns, develops, and operates office, industrial, and commercial real estate properties in Western Canada.

The dividend is considered an “eligible dividend” for tax purposes.

Madison Pacific Properties Inc. opened trading at $6.51 per share.

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