M.D.C. Holdings, Inc. (NYSE: MDC), Denver, parent of Richmond American Homes, on Tuesday evening announced a 20% increase in its quarterly cash dividend to thirty cents($0.30) per share on the company’s common stock.
The increase reflects a further enhancement of the company’s dividend strategy, which has featured uninterrupted cash dividend payments for more than 20 years, numerous stock dividends, and the highest dividend yield in the home building industry.
MDC’s Chairman and CEO Larry A. Mizel said, “Our industry-leading dividend has been a cornerstone of our shareholder value strategy. The increase we announced today reflects our confidence in the Company’s balance sheet and future growth prospects, especially in light of positive legislative developments such as the recently enacted Tax Cuts and Jobs Act.”
The dividend was declared by the Company’s board of directors on January 22, 2018 and will be paid on Wednesday, February 21, 2018 to shareholders of record on Wednesday, February 7, 2018.
