M.D.C. HOLDINGS ANNOUNCES INCREASE IN QUARTERLY CASH DIVIDEND

DENVER, July 24, 2023 /PRNewswire/ -- M.D.C. Holdings, Inc. (NYSE: MDC), one of the nation's leading homebuilders, announced that its board of directors has declared a 10% increase in the quarterly cash dividend, from fifty cents ($0.50) to fifty-five cents ($0.55) per share on the Company's common stock. The dividend will be paid on Wednesday, August 23, 2023 to shareholders of record on Wednesday, August 9, 2023.

About MDC
M.D.C. Holdings, Inc. was founded in 1972. MDC's homebuilding subsidiaries, which operate under the name Richmond American Homes, have helped more than 230,000 homebuyers achieve the American Dream since 1977. One of the largest homebuilders in the nation, MDC is committed to quality and value that is reflected in each home its subsidiaries build. The Richmond American companies have operations in Alabama, Arizona, California, Colorado, Florida, Idaho, Maryland, Nevada, New Mexico, Oregon, Pennsylvania, Tennessee, Texas, Utah, Virginia and Washington. Mortgage lending, insurance and title services are offered by the following MDC subsidiaries, respectively: HomeAmerican Mortgage Corporation, American Home Insurance Agency, Inc. and American Home Title and Escrow Company. M.D.C. Holdings, Inc. stock is traded on the New York Stock Exchange under the symbol "MDC." For more information, visit www.mdcholdings.com.

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SOURCE M.D.C. Holdings, Inc.