Melcor Developments Ltd. (TSE:MRD) Announces Dividend Increase – $0.15 Per Share

Melcor Developments Ltd. (TSE:MRD) declared a quarterly dividend on Friday, March 20th, TickerTech Dividends reports. Investors of record on Tuesday, March 31st will be given a dividend of 0.15 per share on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, March 20th. This is a 15.4% increase from Melcor Developments’s previous quarterly dividend of $0.13.

Melcor Developments Stock Performance

TSE MRD opened at C$18.36 on Wednesday. The business has a fifty day moving average price of C$16.55 and a 200 day moving average price of C$15.58. The company has a market cap of C$552.82 million, a P/E ratio of 9.56 and a beta of 0.63. Melcor Developments has a one year low of C$11.30 and a one year high of C$18.45.

Melcor Developments (TSE:MRD) last announced its earnings results on Tuesday, March 10th. The company reported C$1.05 earnings per share (EPS) for the quarter. Melcor Developments had a net margin of 14.13% and a return on equity of 4.65%. The company had revenue of C$187.12 million for the quarter. As a group, sell-side analysts predict that Melcor Developments will post 2.3613596 EPS for the current fiscal year.

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.