Melcor Developments (TSE:MRD) Hits New 12-Month High After Dividend Announcement

Melcor Developments Ltd. (TSE:MRD) reached a new 52-week high on Friday following a dividend announcement from the company. The company traded as high as C$12.84 and last traded at C$12.76, with a volume of 25294 shares trading hands. The stock had previously closed at C$12.38.

The newly announced dividend which will be paid on Friday, September 27th. Stockholders of record on Friday, September 27th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Friday, September 13th. Melcor Developments’s dividend payout ratio is currently 17.96%.

Melcor Developments Trading Up 4.0 %

The company has a debt-to-equity ratio of 51.55, a current ratio of 12.79 and a quick ratio of 2.65. The firm has a market cap of C$388.92 million, a P/E ratio of 5.21 and a beta of 1.40. The company’s 50 day moving average is C$12.15 and its two-hundred day moving average is C$11.76.

Melcor Developments (TSE:MRD) last announced its quarterly earnings data on Tuesday, August 6th. The company reported C$0.76 earnings per share for the quarter. The company had revenue of C$69.71 million for the quarter. Melcor Developments had a return on equity of 5.96% and a net margin of 22.59%. On average, sell-side analysts predict that Melcor Developments Ltd. will post 2.3183521 earnings per share for the current year.

Melcor Developments Company Profile

Melcor Developments Ltd. operates as a real estate development company in the United States and Canada. The company operates through Land, Properties, REIT, and Golf divisions. It develops, owns, and manages mixed-use residential communities, business and industrial parks, office buildings, retail centers, and golf courses.