Millrose Properties, Inc. (NYSE: MRP) has just announced a significant increase in its quarterly cash dividend payment. The board of directors has declared a dividend of approximately $124.5 million, or $0.75 per share of Class A and Class B common stock. This marks a considerable rise in the dividend compared to the previous period.
The company's CEO and President, Darren Richman, emphasized that Millrose's growth and partnerships have been characterized by discipline. He highlighted the strength of the homesite option platform and the success in recycling capital to meet the industry's evolving needs.
Millrose specializes in the acquisition and horizontal development of land to provide a just-in-time supply of finished homesites, which is identified as the most scarce and mission-critical resource in the homebuilding industry. The company's proprietary technology platform provides real-time feedback and data analytics to drive acquisition decisions, ensuring attractive yields and long-term viability for every transaction in its portfolio.
It's evident that Millrose has experienced substantial success in its first year as a public company, as reflected in the dividend increase. This demonstrates the company's commitment to delivering value to its shareholders. As a result of these announcements, the company's shares have moved -0.54% on the market, and are now trading at a price of $29.51. If you want to know more, read the company's complete 8-K report here.
