Toronto, Ontario – April 30, 2026
MCAN Mortgage Corporation d/b/a MCAN Financial Group (TSX: MKP), a leading Canadian mortgage investment corporation, today announced its financial results for the three months ended March 31, 2026.
The results reflected higher net interest income from growth in the mortgage portfolio, higher equity income from MCAP and higher net realized gains on securities.
“We grew our assets under management by 7% so far this year and recorded a significant increase in net income despite the current geopolitical and economic environment. We had steady originations and continued to grow our uninsured securitization program during the quarter.”
Residential mortgages totaled $4.7 billion (+2% YTD), including:
Compared to Q1 2025, uninsured residential mortgage originations increased 36% and insured residential mortgage originations increased 136%, supported by strong renewal volumes.
Construction and commercial mortgages grew to $1.2 billion (+3% YTD), supported by loan advances of $84.8 million during the quarter.
MCAP income year-to-date was $7.9 million (+43%) compared to Q1 2025, driven primarily by higher securitization income from increased average portfolio balances.
Provision for credit losses totaled $1.5 million, reflecting interest provisioning on impaired residential construction loans, growth in uninsured residential mortgages and uncertainty in economic forecasts.
The impaired total mortgage ratio1 was 0.99% at March 31, 2026 compared to 0.70% at December 31, 2025.
The Board of Directors declared a second quarter regular cash dividend of $0.43 per share, payable June 30, 2026 to shareholders of record on June 15, 2026.
Under MCAN’s Dividend Reinvestment Plan (DRIP), dividends are automatically reinvested in common shares issued from treasury at the weighted average trading price for the five days preceding issuance, less a 2% discount.
Detailed financial statements and Management’s Discussion and Analysis are available on SEDAR+ and on www.mcanfinancial.com.
Derek Sutherland
President and Chief Executive Officer
(416) 203-5931
Santokh Birk
Senior Vice President and Chief Financial Officer
(289) 454-4196
