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Melcor Developments announces 2016 results, declares quarterly dividend of $0.13 per share

March 15, 2017 By Globenewswire Tagged With: TSX:MRD

EDMONTON, AB–(Marketwired – March 15, 2017) – Melcor Developments Ltd. (TSX: MRD), an Alberta-based real estate development and asset management company, today reported results for the fourth quarter and year ended December 31, 2016. The economic environment remained challenging in many of Melcor’s Alberta markets throughout the year, resulting in revenue of $242.46 million in 2016 compared to $263.31 million in 2015. Funds from operations (FFO) per share was down 22% to $1.28 in 2016 compared to $1.64 in 2015. FFO adjusts for all non-cash earnings items.

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