Card Briefs: MBNA's Profits Rose 31% in First Quarter

NEWARK, Del. - MBNA Corp. said its net income for the first quarter rose 31.3% to $68.7 million, or 46 cents per share. The company's board declared a quarterly cash dividend of 21 cents a share, payable July 1 to stockholders of record June 16. Total managed loans at March 31, were $20.3 billion, a $1.6 billion increase over yearend 1994. For the quarter, the corporation acquired 238 new endorsements from organizations and added two million new cardholders and 1.6 million new accounts to its portfolio, which is primarily affinity based. Delinquencies were 3% of managed loans at March 31, down from 3.22% a year earlier. Managed loan losses for the first quarter were 2.64%, down from 2.83% for the year earlier period.