05:20 PM EDT, 03/21/2024 (MT Newswires) -- ECN Capital Corp. ( ECNCF ) Thursday reported financial results for the three-month period and year ending Dec.31, 2023.

For the three-month period ended Dec. 31, 2023, ECN Capital ( ECNCF ) reported Adjusted net (loss) applicable to common shareholders from continuing operations of $13.5 million or $0.05 per share versus $0.5 million or $0.00 per share basic for the previous three-month period and $4.1 million or $0.02 per share basic for the same period last year.

"While 2023 was a difficult year, ECN and its businesses have resumed a growth trajectory in 2024", said Steven Hudson, CEO of ECN Capital Corp ( ECNCF ), in a statement. "We have substantially resolved the challenges that affected performance last year and successfully transitioned management with new leadership at both Triad and Source One. I am pleased with the progress we have made and the early results we are experiencing in 2024."

Also, ECN Capital ( ECNCF ) announced that Michael Lepore, Chief Financial Officer, is stepping down effective March 31, 2024.

Replacing Lepore will be Jacqueline Weber, Vice President, Controller, to the role of CFO effective April 1, 2024.

Lepore has agreed to stay on in an advisory capacity for a 90 day period following his departure to assist with the orderly transition of responsibilities to Ms. Weber.

The Company's Board of Directors has authorized and declared a quarterly dividend of $0.01 per outstanding common share to be paid on April 19, 2024 to shareholders of record at the close of business on April 9, 2024

Originations for the three-month period ended Dec. 31, 2023 were $503.1 million, versus $571.5 million in the previous three-month period and $506.8 million for the same period last year. Originations for the three-month period ended Dec.31, 2023 include $373.8 million of originations from the Manufactured Housing Finance segment and $129.3 million of originations from the Recreational Vehicle and Marine Finance segment.

Managed Assets as of Dec. 31, 2023 were $4.9 billion versus $4.8 billion as at Sept.30, 2023 and $4.4 billion as at Dec. 31, 2022.