4 big dividends this week: Lennar hikes dividend, announces $5B buyback

Investing.com — Here is your Pro Recap of the biggest dividend hikes, cuts, and share-buyback announcements you may have missed this week.

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Lennar raises dividend, announces $5 billion share buyback

Lennar Corporation (NYSE:LEN) raised its annual dividend from $1.50 to $2.00 per share, equating to a $0.50 quarterly cash dividend for both Class A and Class B common stock, payable on February 7, 2024, to shareholders on record as of January 24, 2024.

Additionally, Lennar's Board of Directors approved an expansion of its stock repurchase program, now allowing for up to $5 billion in buybacks of either Class A or Class B common stock, with no set expiration date for these transactions.

Office Properties cuts dividend by 96%

Office Properties Income Trust (NASDAQ:OPI) shares plunged more than 37% on Thursday after the company cut its quarterly dividend by 96% to $0.01 per share, or $0.04 annualized, with an annual yield of 0.6%.

The dividend will be payable on February 15, 2024, to stockholders of record on January 22, 2024, with an ex-dividend date of January 19, 2024.

Two more hikes

Apogee Enterprises (NASDAQ:APOG) hiked its quarterly dividend by 4.2% to $0.25 per share, or $1 annualized, with an annual yield of 1.9%.

The dividend will be payable on February 14, 2024, to stockholders of record on January 30, 2024, with an ex-dividend date of January 29, 2024.

Lakeland Financial (NASDAQ:LKFN) hiked its quarterly dividend by 4.3% to $0.48 per share, or $1.92 annualized, with an annual yield of 3%.

The dividend will be payable on February 5, 2024, to stockholders of record on January 25, 2024, with an ex-dividend date of January 24, 2024.

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