Melcor Developments Ltd. (TSE:MRD) to Issue Quarterly Dividend of $0.12

Melcor Developments Ltd. (TSE:MRD) announced a quarterly dividend on Thursday, August 1st, Zacks reports. Stockholders of record on Monday, September 16th will be paid a dividend of 0.12 per share on Monday, September 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Friday, September 13th.

MRD traded down C$0.03 during trading hours on Wednesday, hitting C$12.30. 1,100 shares of the stock were exchanged, compared to its average volume of 4,457. The stock has a 50-day simple moving average of C$12.40 and a 200-day simple moving average of C$13.00. Melcor Developments has a 12 month low of C$11.44 and a 12 month high of C$14.72. The stock has a market cap of $410.37 million and a price-to-earnings ratio of 7.88. The company has a debt-to-equity ratio of 60.55, a current ratio of 4.66 and a quick ratio of 0.72.

Melcor Developments (TSE:MRD) last released its earnings results on Thursday, August 1st. The company reported C$0.09 earnings per share for the quarter. The business had revenue of C$41.09 million for the quarter. Sell-side analysts expect that Melcor Developments will post 1.2 EPS for the current year.

Separately, Royal Bank of Canada reduced their price target on shares of Melcor Developments from C$16.00 to C$14.00 and set a “sector perform” rating on the stock in a research report on Tuesday, September 3rd.

Melcor Developments Company Profile

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

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Dividend History for Melcor Developments (TSE:MRD)

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