By Connor Hart
Millrose Properties declared an inaugural dividend of 38 cents a share.
The payout, equal to $1.52 a year, represents an annual yield of about 6.9% based on Monday's closing price of $22.
The company, which was spun off from Lennar earlier this year, said the dividend covers the period from its spinoff through March 31 and represents a pro-rated portion of what would equate to 65 cents per share on a normalized quarterly basis.
It will be paid April 15 to shareholders of record as of April 4, according to the company.
Also on Monday, Millrose said it is experiencing strong momentum on transactions outside of the Lennar Master Program Agreement. It guided for per-share earnings of 65 cents to 68 cents for its fiscal second quarter, ending June 30.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
March 17, 2025 19:08 ET (23:08 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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