PulteGroup (PHM) will raise its quarterly dividend by 9.1 percent to $0.12 per share. This comes after a 22.2 percent dividend hike announced by the homebuilder in 2018.

The increase is effective with the Company’s next dividend which is payable January 3, 2020, to shareholders of record at the close of business on December 18, 2019. A new annualized dividend rate of 48 cents per share yields 1.2% at a stock price of $40.

“Inclusive of today’s announced increase, PulteGroup has raised its quarterly dividend by 33% in just the past 12 months,” said Ryan Marshall, PulteGroup President and CEO. “Materially increasing our dividend reflects the strength of our operating and financial results and clearly aligns with the Company’s efforts to build long-term value for PulteGroup shareholders.”

PulteGroup, Inc., based in Atlanta, Georgia, is one of America's largest homebuilding companies with operations in approximately 50 markets throughout the country. The company's brands include Centex, Pulte Homes, Del Webb, DiVosta Homes and John Wieland Homes and Neighborhoods.