VANCOUVER, British Columbia — Madison Pacific Properties Inc. (TSX: MPC and MPC.C), a Vancouver-based real estate company, announced its operational results for the six months ended June 30, 2026, alongside a declaration of its latest dividend. The company reported a net income of $16.0 million for the period, a decrease from $22.4 million recorded in the corresponding six months ended June 30, 2025. This shift in profitability was primarily influenced by a lower net gain on the fair value adjustment on investment properties, which stood at $5.8 million for the current period, significantly down from $21.9 million in the prior year.
Despite the reduction in net income, Madison Pacific Properties demonstrated stable operational performance, with cash flows generated from operating activities before changes in non-cash operating balances increasing slightly to $6.1 million for the six months ended June 30, 2026, compared to $6.0 million in the same period of 2025. Income per share for the period was reported at $0.26, a decline from $0.30 in the previous year. Notably, the net income for the current period also included an interest recovery on tax appeals amounting to $6.1 million, providing a positive contribution to the bottom line.
Robust Investment Portfolio and High Occupancy Rates
As of June 30, 2026, Madison Pacific Properties Inc. maintained a substantial and growing portfolio of investment properties, valued at approximately $791 million. This represents an increase from $768 million reported as of December 31, 2025, underscoring the company’s continued asset growth. The company’s investment portfolio is diverse, comprising 54 properties that collectively offer approximately 2.0 million rentable square feet of industrial and commercial space. Additionally, Madison Pacific holds a 50% interest in ten multi-family rental properties, which collectively contain 321 units.
The operational efficiency of this portfolio is evident in its high occupancy rates. The industrial and commercial investment properties boast a robust leasing rate of approximately 98.34% of available space. Similarly, the multi-family residential properties maintain a strong occupancy, with 97.51% of available units currently leased. These figures highlight the consistent demand for the company’s real estate assets across its operational segments.
Strategic Development Initiatives
Beyond its income-generating investment properties, Madison Pacific Properties is also actively engaged in strategic development initiatives. The company holds a 50% interest in the Silverdale Hills Limited Partnership. This partnership currently owns approximately 1,410 acres of development lands, primarily designated for residential use, located in Mission, British Columbia. This significant land holding positions the company for future growth and value creation in the residential development sector within a key Canadian market.
Shareholder Returns: Dividend Declaration
In a move to reward its shareholders, Madison Pacific Properties Inc. announced a dividend of $0.0525 per share. This dividend will be distributed on both the Class B voting common shares and the Class C non-voting shares. The dividend is scheduled to be payable on September 3, 2026, to shareholders of record as of August 25, 2026. For tax purposes, the company has designated this dividend as an “eligible dividend,” which may offer certain tax advantages to Canadian shareholders.
The results, reported in accordance with International Financial Reporting Standards (IFRS), reflect Madison Pacific Properties Inc.’s ongoing strategy in the real estate market. Despite the fluctuations in non-cash fair value adjustments impacting net income, the company’s stable operating cash flow generation, growing asset base, high occupancy rates, and commitment to shareholder returns through consistent dividends underscore its foundational strength in the competitive Vancouver and broader British Columbia real estate landscape.
