VANCOUVER, BRITISH COLUMBIA–(EMWPresswire – Aug. 13, 2008) – Madison Pacific Properties Inc. (TSX:MPC)(TSX:MPC.C), a Vancouver-based real estate company, announces the results of operations for the six months ended June 30, 2008.
The Company is reporting net income from continuing operations of $1,993,000 for the six months ended June 30, 2008 compared to $3,030,000 for the same period in 2007. Cash flow from operations before changes in non-cash working capital for the six months ended June 30, 2008 is $3,311,000 compared to $3,338,000 for the same period in 2007. Earnings per share were $0.04 per share for the six months ended June 30, 2008 compared to $0.06 per share for the same period in 2007.
The Company is pleased to announce a 5.25 cents per share dividend will be payable September 5, 2008 to shareholders of record August 22, 2008.
The Company owns over $161 million in real estate assets comprising 1,542,440 rentable sq. ft. of commercial and industrial space of which 98.1% is leased.
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