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M.D.C. Holdings Announces 72% Increase in Fourth Quarter
Cash Dividend; Authorizes Additional Common Stock Repurchases
DENVER, Jan 25, 2005 /PRNewswire-FirstCall via COMTEX/ -- M.D.C. Holdings,
Inc. (MDC) today announced that its board of directors has declared a cash
dividend of fifteen cents ($.15) per share for the fourth quarter ended
December 31, 2004. Including the impacts of the March 2004 stock dividend
and January 2005 stock split, this cash dividend amount is 72% higher than
the dividend paid for the 2003 fourth quarter. The cash dividend will be
paid on February 24, 2005 to shareowners of record on February 10, 2005.
MDC also announced that its board of directors authorized the repurchase of
up to an additional 495,120 shares of the Company's common stock, a 30%
increase reflecting MDC's 1.3 for 1 stock split. The Company had 1,650,400
shares remaining to be repurchased under its program prior to the
announcement of this increase, bringing the total shares currently available
for repurchase to 2,145,520. The Company may make purchases from time to
time in the open market.
MDC, whose subsidiaries build homes under the name "Richmond American
Homes," is one of the largest homebuilders in the United States. The Company
also provides mortgage financing, primarily for MDC's homebuyers, through
its wholly owned subsidiary HomeAmerican Mortgage Corporation. MDC is a
major regional homebuilder with a significant presence in some of the
country's best housing markets. The Company is the largest homebuilder in
Colorado; among the top five homebuilders in Northern Virginia, suburban
Maryland, Phoenix, Tucson, Las Vegas and Salt Lake City; and among the top
ten homebuilders in Jacksonville, Northern California and Southern
California. MDC also has established operating divisions in Dallas/Fort
Worth, Houston, West Florida, Philadelphia/Delaware Valley and Chicago. For
more information about our Company, please visit
www.richmondamerican.com.
SOURCE M.D.C. Holdings, Inc.
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