Meritage Homes Boosts Dividend and Launches Share Buyback Plan
Meritage Homes Increases Quarterly Cash Dividend
Meritage Homes Corporation (NYSE: MTH), one of the largest public homebuilders in the United States, recently made an important announcement regarding its cash dividend. The company's Board of Directors declared a quarterly cash dividend of $0.43 per share, reflecting a substantial increase from the previous amount of $0.375 per share. This change is particularly noteworthy as it follows a two-for-one stock split completed earlier in the year, further demonstrating the company’s commitment to delivering value to its shareholders.
Dividend Payment Details
The announced dividend is scheduled to be paid on March 31, 2025, to shareholders who are on record by the close of business on March 17, 2025. Such steps illustrate Meritage Homes' ongoing strategy to enhance shareholder returns while navigating the competitive landscape of the homebuilding industry.
Renewed Share Repurchase Strategy
In addition to the increased dividend, Meritage Homes has also renewed its programmatic share repurchase initiative. The company plans to allocate $15 million for share repurchases during each quarter of 2025, provided the market conditions are favorable. This approach demonstrates the company's confidence in its financial position and its commitment to returning value to shareholders.
What to Expect with the New Strategy
By making these strategic moves, Meritage Homes emphasizes its willingness to adapt and respond to evolving market conditions. The repurchase strategy, viewed as an evergreen plan, is intended to be ongoing, signaling the company’s commitment to shareholder value and confidence in future profitability.
Company Overview
Meritage Homes is recognized as the fifth-largest public homebuilder in the United States, based on the number of homes closed in recent years. The company specializes in crafting energy-efficient and affordable homes, primarily targeting entry-level and first move-up buyers. Meritage operates across numerous states, including Arizona, California, and Texas, showcasing a diverse portfolio of housing solutions.
Why Energy Efficiency Matters
In today’s environmentally conscious world, Meritage Homes stands out for its dedication to energy-efficient homebuilding. The company has received accolades from the U.S. Environmental Protection Agency for its exemplary practices in sustainability and energy conservation. Their commitment to environmentally friendly practices not only benefits the planet but also enhances the appeal of their homes to potential buyers.
A Legacy of Quality Construction
With nearly 200,000 homes delivered in its impressive 39-year history, Meritage Homes has built a solid reputation for quality construction and exceptional customer experiences. The company has received numerous awards, reflecting its commitment to customer satisfaction and high standards in homebuilding.
Contact Information
For more inquiries, interested parties can reach out to Emily Tadano, VP of Investor Relations and ESG, at (480) 515-8979, or via email at investors@meritagehomes.com. The company is always open to investing in strong relationships with shareholders and maintaining transparency.
Frequently Asked Questions
What is the new quarterly dividend amount announced by Meritage Homes?
The new quarterly dividend amount is $0.43 per share, increased from $0.375 per share.
When will the dividend be paid to shareholders?
The dividend will be paid on March 31, 2025, to shareholders on record by March 17, 2025.
How much is Meritage Homes planning to spend on share repurchases?
Meritage Homes plans to invest $15 million in share repurchases each quarter of 2025.
What accolities has Meritage Homes received for energy efficiency?
Meritage Homes has been recognized as a Partner of the Year by the U.S. Environmental Protection Agency for its sustained excellence in energy-efficient homebuilding.
Who can be contacted for investor relations inquiries?
Emily Tadano, VP of Investor Relations and ESG, can be contacted at (480) 515-8979 or via email at investors@meritagehomes.com.
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