Melcor Developments (TSE:MRD) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• Melcor Developments Ltd. saw its stock price cross above its 200-day moving average, indicating positive trading momentum.
• The company announced a quarterly dividend of $0.13 per share, up from $0.11, reflecting a dividend yield of 3.4%.
• Melcor Developments has a market capitalization of C$464.07 million and a high current ratio of 18.08, suggesting solid liquidity.

Shares of Melcor Developments Ltd. (TSE:MRD - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$13.38 and traded as high as C$15.45. Melcor Developments shares last traded at C$15.37, with a volume of 2,486 shares trading hands.

Melcor Developments Price Performance

The company has a debt-to-equity ratio of 53.41, a current ratio of 18.08 and a quick ratio of 2.65. The firm has a fifty day moving average of C$14.60 and a two-hundred day moving average of C$13.43. The stock has a market capitalization of C$461.35 million, a P/E ratio of 49.29 and a beta of 0.64.

Melcor Developments Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 29th will be issued a $0.13 dividend. This is a boost from Melcor Developments's previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, September 15th. Melcor Developments's dividend payout ratio is presently 141.94%.

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.