KB Home (KBH) will raise its quarterly dividend by 66.7 percent to 15 cents per share in 2020. Last year the homebuilder announced a dividend increase of 260 percent. 

The increased dividend will be payable on November 26, 2020 to stockholders of record on November 12, 2020. A new annual dividend rate of 60 cents per share will yield 1.5% at a stock price of $40.82.

In the press release dated October 8, 2020 the company announces the dividend hike including a comment from the CEO: “As we have become a larger and more profitable company, generating significantly higher operating cash flow, our Board approved a meaningful increase in our cash dividend for the second consecutive year. We are managing our business to drive long-term stockholder value and remain committed to a balanced approach of expanding our scale while growing returns. In addition, we continue to prioritize returning cash to stockholders, primarily through our dividend, which we are proud to have consistently paid each quarter for more than 30 years,” said Jeffrey Mezger, Chairman, President and Chief Executive Officer.

KB HOME is a homebuilding company, engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. Today, KB Home operates in 42 markets across eight states, serving a wide array of buyer groups. The company has paid a dividend to shareholders every year since at least 1987.