Mill City Ventures expects record year for revenues, profits

Rhea-AI Summary

Mill City Ventures III, Ltd. (OTCQB: MCVT) has declared a cash dividend of $0.10 per share on its outstanding common stock, set to be payable on October 29, 2021. The record date for stockholders is October 15. CEO Douglas M. Polinsky highlighted that the lending business has experienced significant growth, achieving record revenues and profits, leading to this dividend as a return on investment for shareholders. The company is also pursuing an up listing with NASDAQ.

Positive

• Declared a cash dividend of $0.10 per share.
• Achieved record revenues and profits in the lending business.
• Commitment to returning value to shareholders.
• Pursuing up listing with NASDAQ.

Negative

• Risks related to short-term specialty non-bank loans demand.
• Increased competition in the lending market.

MINNEAPOLIS, Sept. 27, 2021 /PRNewswire/ -- Mill City Ventures III, Ltd. (OTCQB: MCVT) today announced that its Board of Directors had declared a cash dividend of $0.10 per share on its outstanding common stock. The dividend is payable on or about October 29, 2021, to stockholders of record as of the close of business on Oct. 15.

Chief Executive Officer Douglas M. Polinsky stated, "Our lending business has continued to grow providing for a record setting-year with respect to both revenues and profits. Because of this performance we are thrilled to reward our patient stockholders with a cash dividend to help provide a return on investment for our record year. We continue to search out additional ways to bring value to our investors."

We continue to work with NASDAQ regarding our application for up listing.

Forward-Looking Statements
Forward-looking statements in this release are made pursuant to the "safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements, including without limitation continued demand for short-term specialty non-bank loans, increased levels of competition, new products or offerings introduced by competitors, changes in the market rates of loans, and other risks.

About Mill City Ventures III, Ltd.
Founded in 2007, Mill City Ventures III, Ltd., is a specialty finance company providing short-term non-bank lending. Additional information can be found at www.sec.gov.

View original content:https://www.prnewswire.com/news-releases/mill-city-ventures-expects-record-year-for-revenues-profits-301385548.html

SOURCE Mill City Ventures III, Ltd.

FAQ

What is the cash dividend declared by Mill City Ventures III, Ltd.?

Mill City Ventures III, Ltd. declared a cash dividend of $0.10 per share.

When will the dividend be payable for MCVT stockholders?

The dividend will be payable on October 29, 2021, to stockholders of record as of the close of business on October 15.

What factors could affect Mill City Ventures III, Ltd.'s performance?

Factors include demand for non-bank loans, competition, and market rate changes.

Who is the CEO of Mill City Ventures III, Ltd.?

The CEO is Douglas M. Polinsky.

What does Mill City Ventures III, Ltd. specialize in?

Mill City Ventures III, Ltd. specializes in short-term non-bank lending.