Genesis Reports Soaring Q1 Earnings, Declares Dividend

Genesis Land Dev (TSE:GDC) has released an update.

Genesis Land Development Corp. has experienced a significant boost in its first quarter of 2024, with revenues more than doubling to $68.3 million and net earnings soaring to $7.0 million, compared to just $0.2 million in the same period last year. The company also reported a 98% increase in residential lot sales and a 42% increase in home sales, alongside declaring a special dividend of $0.095 per share, showcasing a strong financial position with $39.2 million in cash on hand.

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