Lennar Corporation
Lennar Announces Dividend and Spin-off of Millrose Properties
Summary
On January 10, 2025, Lennar Corporation announced via press release that its Board of Directors declared a stock dividend as part of the spin-off of Millrose Properties, Inc. Shareholders will receive one share of Millrose common stock for each two shares of Lennar common stock held as of the record date, January 21, 2025. The distribution will occur prior to the opening of trading on February 7, 2025. Shareholders can elect to receive either Class A or Class B common stock of Millrose during a specified election period from January 21, 2025, to February 3, 2025. The distribution is expected to be taxable. A registration statement for Millrose has been filed with the SEC, and detailed information is available on Millrose's website or by contacting Millrose directly.
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About Lennar Corporation
Lennar Corporation is a prominent home construction and real estate company, recognized for building affordable, move-up, and active adult homes. Its primary function is to cater to a diverse range of homebuyers across the United States, offering not only residential properties but also financial services through its mortgage and title operations. Lennar's focus spans across key housing markets, significantly impacting regions with high demand for housing like the Sun Belt states. Besides construction, it integrates technology and sustainability into its projects, enhancing overall community appeal and efficiency. Established in 1954, the company has continually adapted to changing market conditions, contributing to urban development and housing innovation. By maintaining a strong emphasis on strategic land acquisition and development, Lennar plays a vital role in shaping residential trends and addressing the ongoing demand for homes in a variety of economic climates.
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