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MIAMI - Millrose Properties, Inc. (NYSE:MRP), a $5.7 billion market cap company trading near its 52-week high, announced Monday its Board of Directors has declared a quarterly cash dividend of approximately $121.2 million, representing $0.73 per share of both Class A and Class B common stock. The dividend represents an attractive 8.03% yield, according to InvestingPro data.
The dividend will be paid on October 15, 2025, to shareholders of record as of October 3, 2025, according to a press release statement from the company.
Millrose Properties describes itself as a Homesite Option Purchase Platform for residential homebuilders. The company purchases and develops residential land, then sells finished homesites to homebuilders through option contracts with predetermined costs and takedown schedules.
"We continue to deploy capital responsibly and this dividend demonstrates the consistency of our business model and our confidence in Millrose’s earnings trajectory," said Darren Richman, Chief Executive Officer and President of Millrose, in the statement.
The company positions its business model as a solution for homebuilders seeking to expand access to finished homesites while implementing asset-light strategies. As Millrose sells fully developed homesites, it recycles capital into future land acquisitions.
In other recent news, Millrose Properties reported its second-quarter 2025 earnings, surpassing market expectations. The company achieved an earnings per share of $0.68, slightly below the forecasted $0.69, but exceeded revenue expectations with $149 million compared to the anticipated $145.45 million. Additionally, Millrose Properties announced it has priced a private offering of $750 million in senior notes, an increase from the initially planned $500 million. These 6.25% Senior Notes, due in 2032, are expected to close on September 11, 2025, subject to customary closing conditions.
In earlier announcements, the company had planned to offer up to $500 million in senior notes to repay an existing term loan. Lucid Capital Markets recently initiated coverage on Millrose Properties with a Buy rating and set a price target of $40.00. The company, which was established as a spin-off from Lennar Corporation, offers an approximately 8% dividend yield. These recent developments highlight significant financial activities and analyst interest in Millrose Properties.
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