Melcor Developments announces third quarter results, declares quarterly dividend of $0.15 per share
Key Highlights
- ➤Q3 revenue $60.42 million, down 16.7% year over year
- ➤Q3 FFO $17.09 million, down 27.0% year over year
- ➤Year-to-date FFO $47.32 million, down 35.5% year over year
- ➤General debt declined 21.0% to $469.10 million
- ➤Quarterly dividend declared at $0.15 per share, payable December 31
Expert Statements
Timothy Melton, Executive Chair and Chief Executive Officer of Melcor Developments Ltd.
“Throughout 2026, we have continued to advance our long-term strategy of disciplined capital allocation, debt reduction, and the disposition of non-core assets.”
Timothy Melton, Executive Chair and Chief Executive Officer of Melcor Developments Ltd.
“To date in 2026, we have disposed of four properties: Telford Industrial in Leduc, the Staples Building in Calgary, the Stanley Building in Edmonton, and Office at the Promenade in Denver, Colorado.”
Timothy Melton, Executive Chair and Chief Executive Officer of Melcor Developments Ltd.
“Together with the four commercial properties sold in 2025, these transactions reflect the continued execution of our strategy.”
Timothy Melton, Executive Chair and Chief Executive Officer of Melcor Developments Ltd.
“Our 2026 results reflect lower land sales activity in the U.S. and the impact of property dispositions, while our core Alberta operations remained stable and margins remained satisfactory.”
Timothy Melton, Executive Chair and Chief Executive Officer of Melcor Developments Ltd.
“While dispositions reduced near-term revenue, they support our broader capital management strategy and our focus on strengthening the balance sheet.”
EDMONTON, Alberta, Nov. 03, 2026 (GLOBE NEWSWIRE) -- Melcor Developments Ltd. ("Melcor") (TSX: MRD), an Alberta-based real estate development and asset management company, today reported results for the third quarter ended September 30, 2026. The third quarter Management Discussion & Analysis (MD&A) and Condensed Interim Financial Statements are available on our website (www.melcor.ca) under Investors, or on SEDAR+ (www.sedarplus.ca).
Timothy Melton, Melcor’s Executive Chair and Chief Executive Officer, commented: "Throughout 2026, we have continued to advance our long-term strategy of disciplined capital allocation, debt reduction, and the disposition of non-core assets.
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