Melcor Developments Ltd T.MRD

NCIB

[Marley66]

I guest that the 230000 shares block trade was bought back by Melcor!
As a shareholder, that's great news for me . So as of the start of the new NCIB, they are probably at 550000 share already for the program. As a result, book value will increase by 40 cents per share just because of that action!

base on share price of 11.50$ , that 40 cents represents more than 3% of the share price plus de dividend of 64 cents that we receive on a quarterly basis.

Thank you very much Melcor, I feel that I'm very well paid to wait as a shareholder.

and i wait for a eventual re-rating of my shares

[longrun86]

Thanks for the post and happy to see the buyback is delivering! It will be very interesting to see how Melcor has performed in this market. With interest rates where they are at, I would expect cap rates need to be shifting up a bit. The debt seems to be structured pretty well but the REIT needs to be dealt with. I think it's only a matter of time before something happens between the REIT

[Thor16]

Does anyone know if they plan on raising the dividend in a couple of weeks?  I would think yes?

[Marley66]

Unfortunately I don't agree with you. We just got a rise in dividend this winter to 16 cents from 15 cents every quarter. But for sure, you can expect good results especially for lots sales in Alberta. And on another positive notes is the NCIB where they bought back around 550000 shares at a bargain price of less than 11.50$ for each shares. So as long the share price is a bargain, ad rather

[longrun86]

We are currently at about a 5.6% dividend yield. The Vanguard REIT etf (VNQ) is at 3.82%. The following provides some yield analysis to other Canadian listed real estate companies  Link https://dividendearner.com/best-canadian-reits/ I am ok with where the yield is at right now. I would like to see them free up some capital and potentially issue a special dividend to address the

[Thor16]

For what it's worth, maybe nothing maybe something, for dividend purposes i only look at free cash flow, earnings, payout ratio and retained earnings (sprinkled with expected capital expenditures over the next few years and a couple ofher less important assumptions).  Yield is just a consequence of share price and often for illiquid securities not an indicator of any sort. However!!! :)&