M.D.C Holdings Promotes COO David Mandarich To CEO; Boosts Dividend 33% - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Thursday, M.D.C Holdings Inc. (MDC) announced a number of promotions and changes with the Company's senior management team. The company also raised its quarterly cash dividend 33 percent year-over-year.

The company promoted President and Chief Operating Officer David Mandarich as the new President and Chief Executive Officer. Mandarich has been associated with the company since 1977 and has served as president and COO since 1999. He has also served as a member of the company's Board of Directors for 35 years.

The company said Larry Mizel will continue his leadership role with MDC as the newly appointed Executive Chairman and will continue to be actively involved in all aspects of the company's operations. He founded the Company in 1972 and has served as a Director and Chairman since that time. Rebecca Givens has been appointed as Senior Vice President and General Counsel of MDC, following the retirement of Michael Touff. Givens was most recently the Senior Vice President & General Counsel for Spectrum Retirement Communities.

Staci Woolsey has been appointed as Chief Accounting Officer of MDC. Woolsey joined the Company in November 2018 as Vice President and Corporate Controller.

The company also made a few appointments at MDC's homebuilding subsidiaries.

Additionally, the company announced that its board of directors has declared a 33 percent higher quarterly cash dividend of $0.40 per share on the company's common stock, payable on November 24 to shareholders of record on November 10, 2020.