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Meritage Homes announces quarterly dividend of $0.75 per share

EditorBrando Bricchi
Published 05/16/2024, 01:11 PM
MTH
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SCOTTSDALE, Ariz. - Meritage (NYSE:MTH) Homes Corporation (NYSE:MTH), a leading U.S. homebuilder, declared on Thursday a quarterly dividend of $0.75 per share. The dividend is slated for payment on June 28, 2024, to shareholders who are on record by the close of trading on June 14, 2024.

The announcement marks a continuation of the company's commitment to shareholder returns. Meritage Homes, known for its energy-efficient and affordable housing options, operates in several states including Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina, and Tennessee.

Over its 38-year history, Meritage has delivered more than 180,000 homes. The company has been recognized for its commitment to energy efficiency and environmental stewardship, having received numerous awards from the U.S. Environmental Protection Agency (EPA). These accolades include the ENERGY STAR Partner of the Year for Sustained Excellence Award, which Meritage has won eleven times, the ENERGY STAR Residential New Construction Market Leader Award, and the Indoor airPLUS Leader Award.

The dividend announcement underscores Meritage's financial health and its position as the fifth-largest public homebuilder in the United States based on the number of homes closed in 2023.

Investors and those interested in the company's performance may note that dividends are a way for companies to distribute a portion of their earnings to shareholders, and the declaration of such dividends can reflect a company's profitability and stability.

This financial update is based on a press release statement from Meritage Homes Corporation.

InvestingPro Insights

Meritage Homes Corporation's (NYSE:MTH) recent dividend declaration is a testament to its stable financial footing and commitment to shareholder returns. To further understand the company's financial health, a look at some key InvestingPro Data metrics can be insightful. Meritage Homes boasts a robust Market Cap of approximately $6.75 billion USD, reflecting its significant presence in the homebuilding industry. Its Price/Earnings (P/E) Ratio stands at an attractive 8.54, indicating that the stock may be undervalued compared to its earnings. Additionally, the company's Revenue Growth for the last twelve months as of Q1 2024 is recorded at 0.67%, showing a steady increase in its financial inflow.

Turning to the InvestingPro Tips, analysts are optimistic about Meritage Homes' prospects, with 8 analysts having revised their earnings upwards for the upcoming period. This suggests a positive outlook on the company's ability to generate profits. Moreover, the stock has been trading near its 52-week high, with a price percentage of the high at 97.47%, which may indicate investor confidence in the company's market position and future growth potential.

For those seeking more detailed analysis and additional insights, there are further InvestingPro Tips available on Meritage Homes at InvestingPro. The platform offers a comprehensive look at the company's financials and market performance. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to a total of 13 InvestingPro Tips that can help investors make well-informed decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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