M.D.C. Holdings, Inc. (NYSE/PCX: MDC) today announced that its board of directors has declared a cash dividend of eighteen cents ($.18) per share for the quarter ended March 31, 2005. This dividend amount is 20% higher than the dividend paid for the 2004 fourth quarter and, including the impact of the January 2005 stock split, is 56% higher than the dividend paid for the 2004 first quarter. The dividend will be paid on May 25, 2005 to shareowners of record on May 11, 2005.
Larry A. Mizel, MDC's chairman and chief executive officer, stated, "Given our strong performance in the first quarter of 2005, we are pleased to reward our shareowners with an increased quarterly dividend for the eighth consecutive year. Our continued commitment to maximizing value to our shareowners is evidenced by the fact that we have more than tripled our quarterly cash dividend over the past 24 months. As a result, our dividend yield currently stands as one of the highest in the homebuilding industry."
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.
CONTACT: Paris G. Reece III, Chief Financial Officer, +1-303-804-7706, greece@mdch.com, or Guaylon Arnic, Director of Corporate Development,
+1-303-804-6980, garnic@mdch.com, both of M.D.C. Holdings, Inc.
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. See licensing information.
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.