- Meritage Homes Corp (NYSE:MTH) Board of Directors has approved the initiation of a recurring quarterly cash dividend of $0.27 per share.
- The first dividend will be paid on Mar. 31, 2023, to shareholders of record as of the close of trading on Mar. 15, 2023.
- “I am pleased to announce the Board’s decision to adopt a quarterly cash dividend, which reflects confidence in our business strategy and operating performance as well as our commitment to maximize long-term value for shareholders,” said CEO Phillippe Lord.
- The company held $861.6 million in cash and equivalents as of Dec. 31, 2022.
- Meritage Homes offers affordable, energy-efficient entry-level and first move-up homes across Arizona, California, Colorado, Texas, Florida, Georgia, North Carolina, South Carolina, and Tennessee.
- Price Action: MTH shares closed lower by 2.10% at $110.78 on Thursday.
Nasdaq Down 1%; AutoZone Posts Downbeat Sales
U.S. stocks traded lower toward the end of trading, with the Nasdaq Composite dropping over 100 points on Tuesday.
The Dow traded down 0.61% to 33,081.92 while the NASDAQ fell 1.13% to 12,576.82 The S&P 500, also fell, dropping, 1.06% to 4,148.20.
