M.D.C. Holdings, Inc. (MDC) Increases Dividend to $0.30 Per Share

M.D.C. Holdings, Inc. (NYSE:MDC) announced a quarterly dividend on Tuesday, January 23rd, RTT News reports. Stockholders of record on Wednesday, February 7th will be given a dividend of 0.30 per share by the construction company on Wednesday, February 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.46%. This is a positive change from M.D.C.’s previous quarterly dividend of $0.25.

M.D.C. has a payout ratio of 37.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect M.D.C. to earn $2.63 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 38.0%.

M.D.C. (MDC) traded down $0.04 on Tuesday, hitting $34.64. The stock had a trading volume of 269,309 shares, compared to its average volume of 468,240. M.D.C. has a 12 month low of $25.87 and a 12 month high of $37.45. The company has a quick ratio of 2.60, a current ratio of 9.45 and a debt-to-equity ratio of 0.65. The company has a market cap of $1,930.00, a P/E ratio of 12.46, a PEG ratio of 0.89 and a beta of 1.38.

M.D.C. (NYSE:MDC) last posted its quarterly earnings data on Thursday, November 2nd. The construction company reported $1.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.55. M.D.C. had a return on equity of 11.66% and a net margin of 6.09%. The company had revenue of $586.30 million for the quarter, compared to the consensus estimate of $595.05 million. During the same quarter in the previous year, the business earned $0.54 EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. research analysts expect that M.D.C. will post 2.69 earnings per share for the current fiscal year.

A number of analysts have recently commented on MDC shares. ValuEngine downgraded M.D.C. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. UBS Group started coverage on M.D.C. in a research note on Wednesday, October 25th. They issued a “sell” rating and a $34.00 price objective on the stock. Citigroup dropped their price objective on M.D.C. from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, November 3rd. Zacks Investment Research raised M.D.C. from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, KeyCorp reissued a “hold” rating on shares of M.D.C. in a research note on Tuesday, September 26th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. M.D.C. has a consensus rating of “Hold” and an average price target of $30.33.

In related news, Director David Siegel sold 2,500 shares of M.D.C. stock in a transaction on Friday, December 8th. The stock was sold at an average price of $31.83, for a total value of $79,575.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Herbert T. Buchwald sold 28,350 shares of M.D.C. stock in a transaction on Friday, December 15th. The stock was sold at an average price of $31.52, for a total value of $893,592.00. The disclosure for this sale can be found here. Insiders own 25.30% of the company’s stock.

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About M.D.C.

M.DC Holdings, Inc is engaged in two primary operations, including homebuilding and financial services. The Company’s segments include West, including segments located in Arizona, California, Nevada and Washington; Mountain, including segments located in Colorado and Utah; East, including segments located in Virginia, Florida and Maryland, which includes Pennsylvania and New Jersey; mortgage operations, including HomeAmerican Mortgage Corporation, and Other, which includes Allegiant Insurance Company, Inc, StarAmerican Insurance Ltd., American Home Insurance Agency, Inc and American Home Title and Escrow Company.

Dividend History for M.D.C. (NYSE:MDC)

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