Meritage Homes Corporation (MTH) to Issue Quarterly Dividend of $0.48 on September 30th

Meritage Homes Corporation (NYSE:MTH) declared a quarterly dividend on Thursday, August 20th. Stockholders of record on Tuesday, September 15th will be paid a dividend of 0.48 per share by the construction company on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 15th.

Meritage Homes has a dividend payout ratio of 21.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Meritage Homes to earn $5.90 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 32.5%.

Meritage Homes Stock Up 1.2%

Shares of NYSE MTH opened at $71.93 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97. The company has a 50-day moving average price of $75.12 and a 200-day moving average price of $70.42. The stock has a market capitalization of $4.69 billion, a P/E ratio of 15.05, a P/E/G ratio of 5.20 and a beta of 1.36. Meritage Homes has a 1 year low of $58.03 and a 1 year high of $85.38.

Meritage Homes (NYSE:MTH) last posted its earnings results on Wednesday, July 29th. The construction company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.12. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. Meritage Homes had a net margin of 6.11% and a return on equity of 7.13%. The firm’s revenue was down 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.04 EPS. On average, equities research analysts forecast that Meritage Homes will post 5.04 EPS for the current fiscal year.

About Meritage Homes

Meritage Homes Corporation is a national homebuilder and residential developer headquartered in Scottsdale, Arizona. Founded in 1985 as Winchester Homes and later rebranded to Meritage Homes, the company specializes in designing, constructing and selling single?family detached and attached homes. With a focus on energy efficiency and sustainable building practices, Meritage Homes markets its properties under the GreenSmart program, which integrates high?performance features aimed at reducing long?term energy and water consumption for homebuyers.

The company’s core activities encompass land acquisition, residential community planning, home design, construction management and real estate sales.