M.D.C. Holdings Declares Quarterly Cash Dividend And Special 8% Stock Dividend

Rhea-AI Summary

M.D.C. Holdings, Inc. (NYSE: MDC) announced a quarterly cash dividend of $0.40 per share and a special 8% stock dividend. The cash dividend will be paid on February 24, 2021, to shareholders of record on February 10, 2021. The stock dividend is scheduled for March 17, 2021, for those on record as of March 3, 2021, providing one additional share for every 12.5 shares held. Cash will be offered for any fractional shares based on the stock's closing price.

Positive

• Declaration of a quarterly cash dividend of $0.40 per share, affirming company confidence and rewarding shareholders.
• Introduction of a special 8% stock dividend, enhancing shareholder value and potential long-term investment gains.

Negative

• None.

DENVER, Jan. 26, 2021 /PRNewswire/ -- M.D.C. Holdings, Inc. (NYSE: MDC) today announced that on January 25, 2021 its board of directors declared a quarterly cash dividend of forty cents ($0.40) per share as well as a special 8% stock dividend on the Company's common stock. The cash dividend will be paid on Wednesday, February 24, 2021 to shareholders of record on Wednesday, February 10, 2021. The stock dividend will be distributed on March 17, 2021 to shareholders of record on March 3, 2021, with a brokers' cut-off date of March 10, 2021, and will be in the form of one additional share of MDC common stock for each 12.5 shares owned by shareholders on the record date. Cash will be paid in lieu of fractional shares based on the closing price of MDC's common stock on the record date.

About MDC

M.D.C. Holdings, Inc. was founded in 1972. MDC's homebuilding subsidiaries, which operate under the name Richmond American Homes, have built and financed the American Dream for more than 210,000 homebuyers since 1977.  MDC's commitment to customer satisfaction, quality and value is reflected in each home its subsidiaries build. MDC is one of the largest homebuilders in the United States. Its subsidiaries have homebuilding operations across the country, including the metropolitan areas of Denver, Colorado Springs, Salt Lake City, Las Vegas, Phoenix, Tucson, Riverside-San Bernardino, Los Angeles, San Diego, Orange County, San Francisco Bay Area, Sacramento, Washington D.C., Baltimore, Orlando, Jacksonville, Seattle and Portland. MDC's subsidiaries also provide mortgage financing, insurance and title services, primarily for Richmond American homebuyers, through HomeAmerican Mortgage Corporation, American Home Insurance Agency, Inc. and American Home Title and Escrow Company, respectively. M.D.C. Holdings, Inc. 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.

FAQ

What is the cash dividend amount declared by MDC?

MDC declared a quarterly cash dividend of $0.40 per share.

When will MDC pay its cash dividend?

MDC's cash dividend will be paid on February 24, 2021.

What is the special stock dividend announced by MDC?

MDC announced a special 8% stock dividend.

When will the stock dividend be distributed?

The stock dividend will be distributed on March 17, 2021.

How is the stock dividend structured for MDC shareholders?

Shareholders will receive one additional share for every 12.5 shares owned.