Melcor Developments (TSE:MRD) Reaches New 12-Month High – Here’s What Happened

Melcor Developments Ltd. (TSE:MRD)’s share price reached a new 52-week high on Thursday . The company traded as high as C$18.50 and last traded at C$18.50, with a volume of 15691 shares. The stock had previously closed at C$18.20.

Melcor Developments Stock Up 0.5%

The company has a debt-to-equity ratio of 43.27, a quick ratio of 2.65 and a current ratio of 5.23. The firm has a market capitalization of C$558.74 million, a PE ratio of 9.73 and a beta of 0.40. The company’s 50 day simple moving average is C$17.64 and its 200-day simple moving average is C$16.06.

Melcor Developments (TSE:MRD) last posted 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 business had revenue of C$187.12 million for the quarter. On average, analysts forecast that Melcor Developments Ltd. will post 2.3613596 EPS for the current fiscal year.

Melcor Developments Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were paid a $0.15 dividend. The ex-dividend date was Friday, March 20th. This represents a $0.60 annualized dividend and a yield of 3.2%. This is a boost from Melcor Developments’s previous quarterly dividend of $0.13. Melcor Developments’s dividend payout ratio is currently 25.13%.

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.