KB Home Announces New $1B Share Repurchase Authorization And Increase In Quarterly Dividend From $0.20 To $0.25 Per Share
Portfolio Pulse from Benzinga Newsdesk
KB Home (NYSE:KBH) announced a new $1 billion share repurchase authorization and a 25% increase in its quarterly dividend, from $0.20 to $0.25 per share. The company plans to continue share repurchases in 2024, targeting between $200 million and $400 million, including $50 million already completed in Q1 2024. This dividend increase follows a previous hike in July 2023, cumulatively raising the dividend by 67% over nine months. The new annualized dividend rate is $1.00 per share, yielding approximately 1.6%. The dividend will be payable on May 23, 2024, to shareholders of record as of May 9, 2024. CEO Jeffrey Mezger highlighted the company's strong balance sheet and cash flow, emphasizing a commitment to growth and shareholder returns.
April 18, 2024 | 8:11 pm
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KB Home announced a new $1 billion share repurchase authorization and increased its quarterly dividend from $0.20 to $0.25 per share, with plans for continued share repurchases in 2024.
The announcement of a new $1 billion share repurchase authorization and a 25% increase in the quarterly dividend is a strong signal of KB Home's financial health and confidence in its future performance. Such actions typically indicate a company's belief in its undervalued stock and a commitment to returning value to shareholders, which can positively impact investor sentiment and potentially lead to a short-term increase in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100