MIAMI, Sept. 30 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B),
one of the nation's largest homebuilders, announced that its Board of
Directors voted to increase the annual dividend rate paid with regard to its
Class A and Class B common stock to $0.64 per share, and declared its first
$0.16 quarterly cash dividend. The dividends are payable on November 17, 2005
to holders of record at the close of business on November 7, 2005.
Previously, Lennar paid dividends on its Class A and Class B common stock at
the annual rate of $0.55 per share.
Lennar Corporation, founded in 1954, is headquartered in Miami, Florida
and is one of the nation's leading builders of quality homes for all
generations, building affordable, move-up and retirement homes. The Company
operates primarily under the Lennar and U.S. Home brand names and utilizes a
Dual Marketing strategy consisting of the Everything's Included(R) and Design
Studio(SM) programs. Lennar's Financial Services Division provides mortgage
financing, title insurance, closing services and insurance agency services for
both buyers of the Company's homes and others. Its Strategic Technologies
Division provides high-speed Internet and cable television services to
residents of the Company's communities and others. Previous press releases
may be obtained at http://www.lennar.com .
Some of the statements in this press release are "forward-looking
statements," as that term is defined in the Private Securities Litigation
Reform Act of 1995. You can identify forward-looking statements by the fact
that these statements do not relate strictly to historical or current matters.
Rather, forward-looking statements relate to anticipated or expected events,
activities, trends or results. Because forward-looking statements relate to
matters that have not yet occurred, these statements are inherently subject to
risks and uncertainties. Many factors could cause our actual activities or
results to differ materially from the activities and results anticipated in
forward-looking statements. These factors include those described under the
caption "Risk Factors Relating to Our Business" included in our Annual Report
on Form 10-K for our fiscal year ended November 30, 2004, and in our other
filings with the Securities and Exchange Commission. We do not undertake any
obligation to update forward-looking statements.
SOURCE Lennar Corporation
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Related links:
http://www.lennar.com
Company News On-Call:
http://www.prnewswire.com/comp/507038.html
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20040604/LENLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Marshall Ames, Investor Relations, Lennar
Corporation, +1-305-485-2092
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