Melcor Developments (TSE:MRD) Director Purchases C$48,032.00 in Stock

Key Points

• Timothy Charles Melton, a director of Melcor Developments Ltd., purchased 3,200 shares of the company at an average price of C$15.01, totaling C$48,032, increasing his ownership by 0.14%.
• Melcor Developments recently increased its quarterly dividend from C$0.11 to C$0.13, providing a dividend yield of 3.5% for shareholders.
• Currently, Melcor Developments stock is trading at C$15.01, showing a slight decrease of 0.4%, with a market cap of C$453.20 million.

Melcor Developments Ltd. (TSE:MRD - ) Director Timothy Charles Melton acquired 3,200 shares of the stock in a transaction on Thursday, October 9th. The shares were acquired at an average price of C$15.01 per share, with a total value of C$48,032.00. Following the purchase, the director owned 2,300,494 shares in the company, valued at C$34,530,414.94. This represents a 0.14% increase in their ownership of the stock.

Melcor Developments Stock Down 0.4%

TSE MRD traded down C$0.06 during mid-day trading on Friday, reaching C$15.01. 6,566 shares of the company's stock traded hands, compared to its average volume of 7,093. Melcor Developments Ltd. has a 1-year low of C$11.30 and a 1-year high of C$15.54. The company has a fifty day simple moving average of C$14.97 and a 200-day simple moving average of C$13.79. The company has a current ratio of 18.08, a quick ratio of 2.65 and a debt-to-equity ratio of 53.41. The company has a market cap of C$453.20 million, a price-to-earnings ratio of 48.42 and a beta of 0.52.

Melcor Developments Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 29th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Monday, September 15th. This is a positive change from Melcor Developments's previous quarterly dividend of $0.11. Melcor Developments's payout ratio is 141.94%.

About Melcor Developments

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.

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