MIAMI, Oct. 1, 2020 /PRNewswire/ -- Lennar
Corporation (NYSE: LEN and LEN.B), one of the nation's leading
homebuilders, announced that its Board of Directors has increased
its annual dividend to $1.00 per
share from $0.50 per share, resulting
in a quarterly cash dividend of $0.25
per share for both Class A and Class B common stock. The dividend
is payable on October 30, 2020 to
holders of record at the close of business on October 16, 2020.
Stuart Miller, Executive Chairman
of Lennar, said, "We are increasing our dividend as part of our
overall strategy of focusing on total shareholder returns. Given
our confidence in our operating platform and resulting cash flow
generation, we believe a diversified program of debt reduction,
stock repurchase and now an increased dividend, is
appropriate."
Forward-Looking Statements
Some of the statements in this press release are
"forward-looking statements," as that term is defined in the
Private Securities Litigation Reform Act of 1995, including
statements regarding our annual dividend. These forward-looking
statements are subject to risks, uncertainties and assumptions,
including the risk that no future dividends are issued or that the
dividend will be reduced in the future. Accordingly, these
forward-looking statements should be evaluated with consideration
given to the many risks and uncertainties that could cause actual
results and events to differ materially from those in the
forward-looking statements. They include the risks detailed in
Lennar's filings with the SEC, including the "Risk Factors" section
of Lennar's Annual Report on Form 10-K for the fiscal year ended
November 30, 2019. It is not possible
for management to predict all the possible risks that could affect
Lennar or to assess the impact of all possible risks on Lennar's
business.
About Lennar
Lennar Corporation, founded in 1954, is one of the nation's
leading builders of quality homes for all generations. Lennar
builds affordable, move-up and active adult homes primarily under
the Lennar brand name. Lennar's Financial Services segment provides
mortgage financing, title and closing services primarily for buyers
of Lennar's homes and, through LMF Commercial, originates mortgage
loans secured primarily by commercial real estate properties
throughout the United States.
Lennar's Multifamily segment is a nationwide developer of
high-quality multifamily rental properties. LENX,
formerly known as Lennar Ventures, drives Lennar's technology,
innovation and strategic investments. For more information about
Lennar, please visit www.lennar.com.
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SOURCE Lennar Corporation