Madison Pacific Properties Reports Higher Net Income for the Three Months Ended March 31, 2026
Madison Pacific Properties (TSX: MPC and MPC.C), a Vancouver-based real estate company, reported higher net income for the three months ended March 31, 2026, the company said after markets closed on Thursday.For the three months ended March 31, 2026, net income was C$11.3 million, compared to $6.2 million in the corresponding year-ago period. Income per share for the period was $0.18 per share, compared to $0.10 per share in the year-ago period.In March 2026, the company signed a settlement with the Canada Revenue Agency (CRA) relating to the tax appeals of its subsidiaries, said the company and added that the settlement provides that "tax appeals will be disposed of and the CRA will provide interest relief for the periods which undue delay by the CRA occurred in respect of the administration of the Company's matters." The company has recorded a recovery of $6.1 million for a portion of the previously recognized interest expense, it said."Subsequent to March 31, 2026, the CRA has refunded to the Company the full amount totalling $6.1 million," added the company.
