D.R. Horton announces 10th consecutive double digit dividend hike

D.R. Horton (DHI) keeps impressing with massive dividend hikes. The homebuilder just said that it will raise its quarterly dividend by 33.3 percent to 40 cents per share. This marks the 10th consecutive year with a double digit dividend hike by DHI. The average dividend growth in the last decade is an impressive 20.6% annually.

During the fourth quarter of fiscal 2024, D.R. Horton says it paid cash dividends of $97.7 million for a total of $395.2 million of dividends paid during the year. Subsequent to year-end, the homebuilding company declared a quarterly cash dividend of $0.40 per common share, an increase of 33% compared to its most recent dividend paid. 

The dividend is payable on November 19, 2024 to stockholders of record on November 12, 2024.

"Based on our strong financial position and cash flow, our Board recently increased our quarterly cash dividend by 33% to $0.40 per share. We are maintaining our disciplined approach to capital allocation to enhance the long-term value of our company, including consistent and increasing capital returns to our shareholders through share repurchases and dividends."

At a stock price of $180 the new dividend yield for D.R. Horton is 0.9%. The company pays an estimated $522 million in dividends annually. In 2023 DHI announced a 20% dividend hike.

D.R. Horton, Inc. is a homebuilding company. D.R. Horton, Inc., America’s Builder, has been the largest homebuilder by volume in the United States since 2002 and has closed more than 1,100,000 homes in its 46-year history. D.R. Horton has operations in 125 markets in 36 states across the United States and is engaged in the construction and sale of high-quality homes through its diverse product portfolio with sales prices generally ranging from $200,000 to over $1,000,000. The Company also constructs and sells both single-family and multi-family rental properties.