Meritage Homes Announces Quarterly Cash Dividend and $250M Increase to Share Repurchase Authorization

Rhea-AI Summary

Meritage Homes, the fifth-largest U.S. homebuilder, announced two significant shareholder actions. The company declared a quarterly dividend of $0.75 per share, payable on December 31, 2024, to shareholders of record as of December 17, 2024. Additionally, the Board approved a $250 million increase to its share repurchase authorization. Combined with $15 million in systematic buybacks quarter-to-date, the total authorized share repurchase program now stands at $334 million as of November 21, 2024.

Positive

• Board approved $250M increase to share repurchase program
• Maintaining $0.75 quarterly dividend payout
• Total buyback authorization reaches $334M
• $15M in systematic buybacks already executed quarter-to-date

Negative

• None.

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)
	investors@meritagehomes.com

FAQ

What is Meritage Homes' (MTH) quarterly dividend for Q4 2024?

Meritage Homes declared a quarterly dividend of $0.75 per share, payable on December 31, 2024, to shareholders of record as of December 17, 2024.

How much did Meritage Homes (MTH) increase its share repurchase authorization in November 2024?

Meritage Homes increased its share repurchase authorization by $250 million on November 21, 2024.

What is the total authorized share repurchase program for Meritage Homes (MTH) as of November 21, 2024?

The total authorized share repurchase program for Meritage Homes is $334 million as of November 21, 2024, including the $250 million increase and $15 million in quarter-to-date buybacks.