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

Shares of Melcor Developments Ltd. (TSE:MRD) reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$18.28 and last traded at C$18.05, with a volume of 3884 shares trading hands. The stock had previously closed at C$18.15.

Melcor Developments Stock Performance

The firm’s 50-day simple moving average is C$16.55 and its two-hundred day simple moving average is C$15.58. The stock has a market capitalization of C$552.82 million, a PE ratio of 9.56 and a beta of 0.63.

Melcor Developments (TSE:MRD) last released its earnings results on Tuesday, March 10th. The company reported C$1.05 earnings per share (EPS) for the quarter. The company had revenue of C$187.12 million during the quarter. Melcor Developments had a return on equity of 4.65% and a net margin of 14.13%. As a group, research analysts expect that Melcor Developments Ltd. will post 2.3613596 earnings per share for the current year.

Melcor Developments Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.3%. This is a positive change from Melcor Developments’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, March 20th. Melcor Developments’s dividend payout ratio is currently 23.96%.

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.