Lennar Increases Annual Dividend To $2.00/shr, Share Repurchase Authorization By $5 Bln

(RTTNews) - Lennar Corp. (LEN, LEN.B) said that its board has increased its annual dividend to $2.00 per share from $1.50 per share, resulting in a quarterly cash dividend of $0.50 per share for both Class A and Class B common stock. The dividend is payable on February 7, 2024 to holders of record at the close of business on January 24, 2024.

Lennar also announced that its Board has authorized an increase to the company's stock repurchase program to enable the Company to repurchase up to an additional $5 billion in value of its outstanding Class A or Class B common stock. The repurchase authorization has no expiration date.