Benzinga | Jan 13, 2022 11:43AM EST

Lennar Hikes Dividend By 50%

* Lennar Corp (NYSE:LEN) said its Board of Directors had increased its annual dividend by 50% to $1.50 from $1.00 per share.

* The move has resulted in a quarterly cash dividend of $0.375 per share for Class A and Class B common stock.

* The dividend is payable on February 10, 2022, to holders of record on January 27, 2022.

* Lennar held $2.7 billion of Homebuilding cash and equivalents as of November 30, 2021.

* Price Action: LEN shares closed higher by 0.19% at $107.94 on Wednesday.