FORT WASHINGTON, Pa., March 08, 2022 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL) (TollBrothers.com), the nation's leading builder of luxury homes, today announced that its Board of Directors approved an increase to its quarterly cash dividend to $0.20 per share, or a rate of $0.80 per share on an annualized basis. This represents an increase of 18% from the prior quarterly cash dividend of $0.17 per share. The dividend of $0.20 per share will be paid on April 22, 2022 to shareholders of record on the close of business on April 8, 2022.
"I am pleased to announce an increase in our dividend, reflecting the health of our business and its strong cash generation," said Douglas C. Yearley, Jr., Chairman and Chief Executive Officer. "We are committed to profitable and sustainable growth and remain extremely focused on capital efficiency and return on equity. The increase in our dividend demonstrates this commitment to delivering returns to our stockholders."
ABOUT TOLL BROTHERS
Toll Brothers, Inc., A FORTUNE 500 Company, is the nation's leading builder of luxury homes. The Company was founded 55 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, golf course development, smart home technology, and landscape subsidiaries. The Company also operates its own lumber distribution, house component assembly, and manufacturing operations.
Toll Brothers was named the World’s Most Admired Homebuilder in FORTUNE magazine’s 2022 survey of the World’s Most Admired Companies®, the seventh year it has been so honored. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.
Toll Brothers discloses information about its business and financial performance and other matters, and provides links to its securities filings, notices of investor events, and earnings and other news releases, on the Investor Relations section of its website (investors.TollBrothers.com).
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CONTACT: Frederick N. Cooper (215) 938-8312
fcooper@tollbrothers.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8c390472-c313-491f-bc89-9c2093915239
