07:43 AM EDT, 03/11/2026 (MT Newswires) -- Melcor Developments ( MODVF ) after markets closed on Tuesday reported lower fourth-quarter net income, despite a rise in revenue.

Fourth-quarter net income was reported at C$31.65 million, compared to $32.38 million in the corresponding year-ago quarter. Earnings per share attributable to Melcor's shareholders for the fourth quarter stood at $1.05 per share basic and diluted, compared to $1.07 per share basic and $1.05 per share diluted in the year-ago quarter.

"Net income continues to be significantly impacted by non-cash items," said the company.

Fourth-quarter revenue was $187.12 million, compared to $170.54 million in the year-ago quarter.

"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," said Timothy Melton, Melcor's Executive Chair and Chief Executive Officer. "Importantly, this achievement was realized while maintaining a conservative balance sheet and a disciplined, long-term approach to value creation."

The company said that, on March 10, 2026, it declared a quarterly dividend of $0.15 per share, and a special dividend of $0.35 per share. Both dividends are payable on March 31, 2026, to shareholders of record on March 20.

"Looking ahead to 2026, we expect continued moderate strength in both residential and commercial development," added the company. "Ongoing migration to Alberta is anticipated to support demand for serviced residential lots and contribute to the continued shift toward suburban communities. Alberta's positive employment environment and population growth trends are expected to further reinforce development activity. In addition, there is potential for improved land sales within our U.S. operations as market conditions evolve."