Meritage Homes announced a quarterly dividend of $0.75 and a $250 million increase in share repurchase authorization.
Quiver AI Summary
Meritage Homes Corporation, the fifth-largest homebuilder in the U.S., announced a quarterly dividend of $0.75 per share, payable on December 31, 2024, for shareholders recorded by December 17, 2024. The company also increased its share repurchase authorization by $250 million, raising the total to $334 million as of November 21, 2024. Meritage, known for its energy-efficient and affordable homes, operates in multiple states including Arizona, Texas, and California, and has built over 190,000 homes in its 38-year history. The company has received numerous accolades for its commitment to energy efficiency and quality construction.
Potential Positives
- Meritage Homes Corporation declared a quarterly dividend of $0.75 per share, demonstrating financial stability and a commitment to returning value to shareholders.
- The Board of Directors approved a $250 million increase to the Company's share repurchase authorization, indicating confidence in the company's financial health and future prospects.
- The announcement brings the total authorized share repurchase program to $334 million, reflecting a proactive approach to capital management and potentially enhancing shareholder value.
Potential Negatives
- The announcement of a significant share repurchase program could indicate that the company's leadership lacks confidence in other growth opportunities, which may raise concerns among investors about the company's future performance.
- The quarterly dividend declaration may strain the company's cash flow, particularly if market conditions worsen or if the company requires capital for operational needs or expansion.
- Increasing share repurchase authority may be viewed negatively by some investors who prefer the company to reinvest in growth initiatives rather than focusing on enhancing shareholder returns through buybacks.
FAQ
What is the declared dividend amount by Meritage Homes?
Meritage Homes has declared a quarterly dividend of $0.75 per share.
When will the dividend be paid?
The dividend will be payable on December 31, 2024, to shareholders of record as of December 17, 2024.
What is the total authorized share repurchase program for Meritage Homes?
The total authorized share repurchase program for Meritage Homes is $334 million as of November 21, 2024.
What markets does Meritage Homes operate in?
Meritage Homes operates across multiple states, including Arizona, California, Texas, Florida, and more.
What recognition has Meritage Homes received for energy efficiency?
Meritage Homes is an eleven-time recipient of the EPA’s ENERGY STAR® Partner of the Year Award for Sustained Excellence.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$MTH Insider Trading Activity
$MTH insiders have traded $MTH stock on the open market 8 times in the past 6 months. Of those trades, 0 have been purchases and 8 have been sales.
Here’s a breakdown of recent trading of $MTH stock by insiders over the last 6 months:
- R. ODELL MICHAEL sold 5,000 shares.
- HILLA SFERRUZZA (Chief Financial Officer) sold 2,500 shares.
- LOUIS E CALDERA sold 1,000 shares.
- JAVIER FELICIANO (EVP Chief People Officer) sold 3,000 shares.
- PHILLIPPE LORD (Chief Executive Officer) has traded it 3 times. They made 0 purchases and 3 sales, selling 10,000 shares.
- PETER L AX sold 3,000 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$MTH Hedge Fund Activity
We have seen 206 institutional investors add shares of $MTH stock to their portfolio, and 222 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BALYASNY ASSET MANAGEMENT L.P. added 541,242 shares (+2179.6%) to their portfolio in Q3 2024
- FULLER & THALER ASSET MANAGEMENT, INC. removed 523,811 shares (-64.2%) from their portfolio in Q3 2024
- T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 473,313 shares (-35.8%) from their portfolio in Q3 2024
- MORGAN STANLEY added 330,834 shares (+90.6%) to their portfolio in Q3 2024
- THRIVENT FINANCIAL FOR LUTHERANS removed 243,167 shares (-74.0%) from their portfolio in Q3 2024
- WEDGE CAPITAL MANAGEMENT L L P/NC added 239,511 shares (+734.4%) to their portfolio in Q3 2024
- NORGES BANK added 215,754 shares (+49.3%) to their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
SCOTTSDALE, Ariz., Nov. 21, 2024 (GLOBE NEWSWIRE) -- Meritage Homes Corporation (NYSE: MTH, “Meritage” or the “Company”), the fifth-largest homebuilder in the U.S., today announced that its Board of Directors has declared a quarterly dividend of $0.75 per share. This dividend is payable on December 31, 2024 to shareholders of record as of the close of trading on December 17, 2024.
Meritage also announced that its Board of Directors has approved a $250 million increase to the Company’s share repurchase authorization. This increase combined with $15 million in systematic buybacks on a quarter to date basis brings the Company’s total authorized share repurchase program to $334 million as of November 21, 2024.
About Meritage Homes Corporation
Meritage is the fifth-largest public homebuilder in the United States, based on homes closed in 2023. The Company offers energy-efficient and affordable entry-level and first move-up homes. Operations span across Arizona, California, Colorado, Utah, Texas, Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina and Tennessee.
Meritage has delivered over 190,000 homes in its 38-year history, and has a reputation for its distinctive style, quality construction, and award-winning customer experience. The Company is an industry leader in energy-efficient homebuilding, an eleven-time recipient of the U.S. Environmental Protection Agency’s (EPA) ENERGY STAR® Partner of the Year for Sustained Excellence Award and Residential New Construction Market Leader Award, as well as a four-time recipient of the EPA's Indoor airPLUS Leader Award.
For more information, visit www.meritagehomes.com .
| Contacts: | Emily Tadano, VP Investor Relations and ESG |
| (480) 515-8979 (office) | |
| [email protected] |
