Business
Millrose Properties Declares Inaugural Dividend and Provides 2025 Outlook
MIAMI, March 17, 2025--Millrose Properties, Inc. (NYSE: MRP, "Millrose"), the Homesite Option Purchase Platform (HOPP’R) for residential homebuilders, today announced a major milestone: its inaugural dividend of $65 million, or $0.38 per share of Class A and Class B common stock. The dividend will be paid on April 15, 2025 to shareholders of record as of April 4, 2025. This "stub" dividend covers the period from Millrose’s spin-off from Lennar Corporation ("Lennar") on February 7, 2025 through M
About this update from Millrose Properties, Inc.
[{"type":"text","content":"MIAMI, March 17, 2025--(BUSINESS WIRE)--Millrose Properties, Inc. (NYSE: MRP, "Millrose"), the Homesite Option Purchase Platform (HOPP’R) for residential homebuilders, today announced a major milestone: its inaugural dividend of $65 million, or $0.38 per share of Class A and Class B common stock. The dividend will be paid on April 15, 2025 to shareholders of record as of April 4, 2025. This "stub" dividend covers the period from Millrose’s spin-off from Lennar Corporation ("Lennar") on February 7, 2025 through March 31, 2025, and represents a pro-rated portion of what would equate to $0.65 per share on a normalized quarterly basis.","length":669,"tagName":"p"},{"type":"text","content":""We’re excited to announce our first-ever dividend—an important moment for Millrose and our shareholders," said Darren Richman, Chief Executive Officer and President of Millrose Properties, Inc. "This dividend underscores the strength of our platform, the robust demand for our capital and our commitment to deliver 100% of our earnings back to shareholders."","length":379,"tagName":"p"},{"type":"text","content":"Strong Momentum on Transactions","length":31,"tagName":"p"},{"type":"text","content":"Millrose is also pleased to report strong progress on transactions outside of the Lennar Master Program Agreement, closing approximately $250 million in such transactions since its spin-off, at yields exceeding 11%. Given the strong reception for its capital, and the momentum in signing up new third-party clients, Millrose expects to close at least an additional $100 million of such transactions within the next 30 days and anticipates delivering at least $1 billion in such transactions for full-year 2025.","length":510,"tagName":"p"},{"type":"text","content":"To support this accelerated growth, Millrose is actively working with its financial advisors to secure additional financing, ensuring ample capital to fund its expanding transaction pipeline.","length":191,"tagName":"p"},{"type":"text","content":"Earnings Outlook","length":16,"tagName":"p"},{"type":"text","content":"Fueled by this momentum and its growing order book, Millrose is providing earnings per share guidance in the range of $0.65 to $0.68 for its second fiscal quarter ending June 30, 2025. Looking ahead, Millrose anticipates achieving quarterly...