Melcor Developments (TSE:MRD) Reaches New 1-Year High - Here's Why

Key Points

• Melcor Developments Ltd. reached a new 52-week high, trading at C$15.54 before closing at C$15.26 with a volume of 3,110 shares.
• The company announced an increase in its quarterly dividend to $0.13, with a dividend yield of 3.4% and a payout ratio of 141.94%.
• Melcor Developments has a debt-to-equity ratio of 53.41 and a market capitalization of C$460.75 million.

Melcor Developments Ltd. (TSE:MRD - )'s share price hit a new 52-week high on Thursday . The stock traded as high as C$15.54 and last traded at C$15.26, with a volume of 3110 shares changing hands. The stock had previously closed at C$15.33.

Melcor Developments Stock Down 0.5%

The company has a debt-to-equity ratio of 53.41, a quick ratio of 2.65 and a current ratio of 18.08. The stock has a market cap of C$460.75 million, a P/E ratio of 49.23 and a beta of 0.64. The firm has a 50 day simple moving average of C$14.79 and a two-hundred day simple moving average of C$13.57.

Melcor Developments Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 29th will be paid a $0.13 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.52 annualized dividend and a dividend yield of 3.4%. This is an increase from Melcor Developments's previous quarterly dividend of $0.11. Melcor Developments's dividend payout ratio is currently 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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