Lennar Keeps Dividend Steady
Homebuilder Lennar announced today its second-quarter dividend of $0.04 per share for both is Class A and Class B shares, the same rate it's paid since 2008.
The board of directors said the quarterly dividend is payable on July 24 to the holders of record at the close of business on July 10. The homebuilder has made quarterly payouts to investors since at least 2000 but cut the dividend by three-quarters in 2008 at the height of the financial and housing crisis.
The regular dividend payment equates to a $0.16-per-share annual dividend, yielding 0.5% based on the closing price of Lennar's stock on June 25.
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