Melcor Developments announces results for 2025, declares quarterly dividend of $0.15 per share and special dividend of $0.35 per share

About this update from Melcor Developments Ltd.

Melcor Developments announces results for 2025, declares quarterly dividend of $0.15 per share and special dividend of $0.35 per share EDMONTON, Alberta, March 10, 2026 (GLOBE NEWSWIRE) -- 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, 2025. The annual 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: "2025 marks a milestone year for Melcor, with revenues exceeding $400 million and funds from operations exceeding $100 million, both for the first time in Melcor's history. Importantly, this achievement was realized while maintaining a conservative balance sheet and a disciplined, long-term approach to value creation. Our Land division had an exceptional year, with revenues up 28.7% to $292.49 million (2024 - $227.27 million). Results were significantly influenced by the sale of 198.40 acres of unserviced land in La Privada, Arizona which contributed to the $65.21 million in revenue generated from our US Land division in early 2025. Revenues within our Canadian region also delivered strong and balanced performance, with our Edmonton and Calgary regions together contributing $201.99 million (2024 - $196.27 million) in revenues. In 2025, we continued to actively reshape the Properties portfolio through the strategic disposition of non-core assets while selectively reinvesting in new development. During the year, we completed the sale of four commercial properties - Evans Business Centre, Melcor Crossing, Coast Home Centre, and Westgrove Common - for total net proceeds of $87.25 million. Subsequent to year end, we also sold our Staples Building for net proceeds of $12.07 million. We also completed the development of 7 new commercial buildings, totaling 82,209 sf. As a result of the property sales, revenue from our Properties division was down 4.7% to $106.61 million (2024 -$111.92 million). Our Properties portfolio has continued to be impacted by fair value adjustments driven by broader market conditions outside of managements control. In 2025, we recognized a fair value loss of $25.8...

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