Melcor Developments announces first quarter results, declares quarterly dividend of $0.14 per share

May 09, 2022

EDMONTON, Alberta, May 09, 2022 (GLOBE NEWSWIRE) -- Melcor Developments Ltd. (TSX: MRD), an Alberta-based real estate development and asset management company, today reported results for the first quarter ended March 31, 2022. Revenue for the quarter was up 23% to $53.31 million compared to Q1-2021. Net income in the quarter was impacted by non-cash fair value losses of $5.68 million on REIT units related to unit price appreciation since December 31, 2021 resulting in a net income of $2.47 million or $0.08 per share (basic) compared with a net loss of $14.03 million or $0.42 per share (basic) in Q1-2021.

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