Meritage Homes Strengthens Shareholder Value with New Dividend

Meritage Homes Declares Quarterly Dividend

Meritage Homes Corporation, a prominent player in the U.S. homebuilding industry, has opted to declare a quarterly dividend of $0.75 per share. This decision made by the Company’s Board of Directors signals a commitment to provide value to its shareholders. The dividend will be distributed on December 31 of this year to those who are shareholders of record by December 17.

Increased Share Repurchase Authorization

In addition to its quarterly dividend announcement, Meritage has also authorized a substantial increase of $250 million to its share repurchase program. This initiative aims to reinforce shareholder confidence and reflects the company’s strong financial position. Alongside previous systematic buybacks of $15 million, this raises the total of the repurchase program to $334 million.

The Significance of Share Buybacks

Share buybacks serve multiple purposes in the corporate landscape. By repurchasing their stock, companies like Meritage Homes can improve earnings per share, increase shareholder value, and utilize excess cash effectively. Investors often perceive buybacks positively, as they suggest that the company believes its stock is undervalued.

Meritage Homes: An Overview

As the fifth-largest public homebuilder in the United States, Meritage Homes has made a mark by delivering over 190,000 homes over 38 years. The company is widely recognized for its energy-efficient offerings which cater to a diverse clientele looking for affordable options in entry-level and move-up housing.

Commitment to Quality and Sustainability

Meritage Homes has established a stellar reputation for quality construction and customer satisfaction. Its commitment to energy efficiency shines through as it has earned numerous accolades, including the prestigious EPA's ENERGY STAR Partner of the Year award. Such recognitions place Meritage as a leader in sustainable homebuilding, emphasizing its dedication to environmentally friendly practices.

Reaching a Broader Audience

The operational reach of Meritage Homes extends across various states, including Arizona, California, Texas, and North Carolina. This wide footprint enables the company to cater to a vast audience looking for reliable and attractive home options. With strategic developments in several locations, Meritage continues to thrive in a competitive market.

Future Growth and Innovations

Meritage Homes remains focused on innovation and growth within the industry. Its strategies include leveraging cutting-edge construction technologies and sustainable practices to meet the evolving needs of homebuyers. The company’s foresight in integrating modern technologies into its builds not only benefits homeowners but also positions Meritage as a forward-thinking leader in the housing sector.

Contacting Meritage Homes

For those interested in delving deeper into their offerings or have inquiries regarding investor relations, Meritage Homes can be easily contacted. Emily Tadano, the VP of Investor Relations and ESG, is available for communications. Individuals can reach out through official channels to gain insights into the company’s future directions.

Frequently Asked Questions

What is the announced quarterly dividend amount for Meritage Homes?

Meritage Homes has declared a quarterly dividend of $0.75 per share.

What is the total authorized share repurchase program amount?

The total authorized share repurchase program now stands at $334 million.

Where does Meritage Homes operate?

Meritage Homes operates across multiple states, including Texas, California, and Florida.

What recognitions has Meritage Homes achieved?

Meritage Homes has received various awards for energy efficiency, including the EPA’s ENERGY STAR Partner of the Year Award.

Who can be contacted for investor relations?

Emily Tadano, VP of Investor Relations and ESG, can be contacted for inquiries regarding Meritage Homes.

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