Melcor Developments (TSE:MRD) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• Melcor Developments' stock price recently surpassed its 200-day moving average, trading at C$15.09 while the average is C$13.18.
• The company declared a quarterly dividend of $0.11 per share, which translates to an annualized payment of $0.44 and a dividend yield of 2.9%.
• Melcor Developments maintains solid financial ratios, including a quick ratio of 2.65 and a current ratio of 18.08, indicating strong liquidity.

Shares of Melcor Developments Ltd. (TSE:MRD - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$13.18 and traded as high as C$15.09. Melcor Developments shares last traded at C$15.09, with a volume of 3,960 shares changing hands.

Melcor Developments Stock Down 0.5%

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 stock has a fifty day moving average price of C$14.27 and a two-hundred day moving average price of C$13.23. The company has a market cap of C$458.50 million, a P/E ratio of 40.10 and a beta of 1.41.

Melcor Developments Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 30th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, June 16th. Melcor Developments's dividend payout ratio (DPR) is presently 116.76%.

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.