A memory device and method of operation for latency control in which a source clock signal having a first frequency is divided to provide a divided clock signal having a second frequency that is less than the first frequency as an input to a delay-locked loop circuit in an initialization mode. A locking operation may be performed to align the divided clock signal and a feedback clock signal that is generated by delaying the divided clock signal through the delay-locked loop circuit. A loop delay of the delay-locked loop circuit is measured after the locking operation is completed. The latency control is performed efficiently by measuring the loop delay using the divided clock signal in the initialization mode.