M.D.C. Holdings, Inc. (www.RichmondAmerican.com) today announced that its board of directors has declared a 10 percent stock dividend and a cash dividend of $.06 cents per share for the fourth quarter ended December 31, 2000. The cash dividend will be paid and the stock dividend will be distributed on February 16, 2001 to shareowners of record on February 5, 2001. The stock dividend will be in the form of one additional share of MDC common stock for each 10 shares owned by shareowners of record on February 5, 2001. Cash will be paid in lieu of fractional shares based on the closing price of MDC's stock on the record date.
Larry A. Mizel, MDC's chairman and chief executive officer, stated, "We are pleased to continue our history of direct returns to our shareowners through quarterly cash dividends, which are among the highest paid by public companies in our industry. In addition, the payment of the stock dividend is consistent with our primary objective of maximizing value to our shareowners."
MDC is one of the largest homebuilders in the United States. The Company also provides mortgage financing, primarily for MDC's home buyers, 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 metropolitan Denver; among the top five builders in Northern Virginia, Tucson and Colorado Springs; and among the top ten homebuilders in Phoenix, Las Vegas, suburban Maryland, Southern California and Northern California.
SOURCE: M.D.C. Holdings, Inc.
Contact: Paris G. Reece III, Chief Financial Officer of M.D.C. Holdings,
Inc., firstname.lastname@example.org, 303-804-7706; or Rick Matthews of Rubenstein
Associates, Inc., 212-843-8007, email@example.com, for M.D.C. Holdings,
The Richmond American Homes companies (RAH), HomeAmerican Mortgage Corporation (HMC), American Home Insurance Agency (also known as AHI Insurance Agency) (AHI) and American Home Title and Escrow Company (AHT) are owned, directly or indirectly, by M.D.C. Holdings, Inc. and, therefore, are affiliated companies. Each of RAH, HMC, AHI and AHT offers services independently of each other, and if you obtain a product or service from one company, you are not required to utilize the services of, or obtain products from, the other company. Your decision to use a company that is not affiliated with RAH, HMC, AHI or AHT will not affect your ability to obtain products and services from these companies.
Certain statements on the Site, including statements regarding the MDC Companies' business, financial condition, results of operation, cash flows, strategies and prospects, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terminology such as "likely," "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue," or the negative of such terms and other comparable terminology. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the MDC Companies to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Additional information about the risks and uncertainties applicable to the MDC Companies' business is contained in MDC's filings with the Securities and Exchange Commission, including MDC's Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. The MDC Companies undertake no duty to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. However, any further disclosures made on related subjects in MDC's subsequent filings with the Securities and Exchange Commission, press releases and/or presentations should be considered.