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Highlights
- Dividend Declaration: A quarterly dividend of $0.75 per share will be payable on December 31, 2024, to shareholders of record as of December 17, 2024.
- Share Repurchase Program: The Board approved a $250 million increase to the company’s share repurchase authorization, bringing the total to $334 million as of November 21, 2024.
- Quarter-to-Date Buybacks: Meritage has executed $15 million in systematic buybacks this quarter.
Meritage Homes Corporation (NYSE:MTH), the fifth-largest U.S. homebuilder, has reinforced its commitment to delivering shareholder value with two major financial updates.
Quarterly Dividend
The company declared a quarterly dividend of $0.75 per share, to be distributed on December 31, 2024, for shareholders recorded by December 17, 2024. This announcement reflects Meritage's consistent focus on rewarding shareholders through direct cash returns.
Expanded Share Buyback Authorization
Meritage’s Board of Directors approved a $250 million increase to its share repurchase program, raising the total authorized amount to $334 million. This expansion includes $15 million already allocated to systematic buybacks in the current quarter. The move underlines Meritage’s strategic focus on enhancing shareholder value through equity reduction and investment in its future growth trajectory.
About Meritage Homes
Meritage specializes in energy-efficient and affordable homes for entry-level and first move-up buyers. Operating across 12 states, the company continues to address the growing demand for modern, sustainable housing solutions in key U.S. markets.
