Melcor Developments (TSE:MRD) Reaches New 52-Week High – Here’s What Happened

Melcor Developments Ltd. (TSE:MRD) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$17.45 and last traded at C$17.45, with a volume of 1600 shares. The stock had previously closed at C$17.12.

Melcor Developments Price Performance

The firm has a market capitalization of C$523.31 million, a P/E ratio of 9.05 and a beta of 0.63. The company has a fifty day moving average of C$16.13 and a 200 day moving average of C$15.42. The company has a debt-to-equity ratio of 47.67, a current ratio of 15.87 and a quick ratio of 2.65.

Melcor Developments Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were issued a $0.13 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.52 annualized dividend and a yield of 3.0%. Melcor Developments’s payout ratio is presently 23.96%.

Melcor Developments Company Profile

Melcor Developments Ltd is a real estate development and asset management company. It develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centers, and golf courses. Its divisions include Community Development, which is engaged in acquiring raw land and planning residential communities and commercial developments; Property Development, which is engaged in project managing development, leasing, and construction of commercial properties; Investment Properties operates a portfolio of commercial and residential properties, focused on property improvements and capital appreciation; the REIT, which is engaged in acquiring and owning leasable office, retail, industrial and residential sites; Recreation Property and Corporate.