Toll Brothers Announces 54% Increase to Quarterly Cash Dividend

FORT WASHINGTON, Pa., March 09, 2021 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL) (TollBrothers.com), the nation's leading builder of luxury homes, today announced that its Board of Directors approved an increase to its quarterly cash dividend to $0.17 per share, or a rate of $0.68 per share on an annualized basis. This represents an increase of 54% from the prior quarterly cash dividend of $0.11 per share. The dividend will be payable on April 23, 2021 to stockholders of record on the close of business on April 9, 2021. The Company initiated its dividend at $0.08 per share in April 2017 and last increased it to $0.11 per share in April 2018.

"I am pleased to announce an increase in our dividend, reflecting the health of our business and its strong cash generation," said Douglas C. Yearley, Jr., Chairman and Chief Executive Officer. "We are committed to profitable and sustainable growth and remain extremely focused on capital efficiency and return on equity. The increase in our dividend demonstrates this commitment to delivering returns to our stockholders."

ABOUT TOLL BROTHERS

Toll Brothers, Inc., A FORTUNE 500 Company, is the nation's leading builder of luxury homes. The Company was founded over fifty years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, golf course development, smart home technology, and landscape subsidiaries. The Company also operates its own lumber distribution, house component assembly, and manufacturing operations.

In 2020, Toll Brothers was named World’s Most Admired Home Building Company in Fortune magazine’s survey of the World’s Most Admired Companies, the sixth year in a row it has been so honored. Toll Brothers has won numerous other awards, including Builder of the Year from both Professional Builder magazine and Builder magazine, the first two-time recipient from Builder magazine. For more information visit TollBrothers.com.