Melcor Developments declares $0.11 dividend for shareholders

Melcor Developments Ltd. reported its 2024 financial results, showing a 12.6% increase in revenue to $349.5 million and a 10.8% rise in earnings. The company declared a dividend of $0.11 per share, payable on March 31, 2025. The Land division performed well, driven by demand in Alberta, particularly in Edmonton and Calgary. The Properties division added five new buildings but faced challenges with rising administrative costs related to a proposed acquisition of Melcor REIT. Melcor is in the process of acquiring its unowned equity interest in Melcor REIT for $64.17 million. Voting support agreements have been secured from key stakeholders, with a special meeting scheduled for April 11, 2025, to approve the transaction.