Lennar Corporation Increases Annual Dividend to $1.00 per share

FREMONT, CA: As per the board of directors of Lennar Corporation, the leading home construction and real estate company based in Miami, Florida, there is an increase in Lennar’s annual dividend from $0.50 per share to $1.00 per share, resulting in a quarterly cash dividend of $0.25 per share for both class A and class B common stock. The increase in the dividend is a part of their overall strategy of focusing on total shareholder returns. Given their confidence in the operating platform and resulting cash flow generation, a diversified program of debt reduction, stock repurchase and an increased dividend seems to be an appropriate move.