Toll Brothers Announces Cash Dividend
September 29 2017 - 3:21PM
Toll Brothers, Inc. (NYSE:TOL) (www.tollbrothers.com), the nation's
leading builder of luxury homes, today announced that its Board of
Directors has approved a quarterly cash dividend to
shareholders. The dividend of $0.08 per share will be paid on
October 27, 2017 to shareholders of record on the close of business
on October 13, 2017.
Toll Brothers, Inc., A FORTUNE 500 Company, is the
nation's leading builder of luxury homes. The Company began
business 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 move-up,
empty-nester, active-adult, and second-home buyers and operates in
20 states: Arizona, California, Colorado, Connecticut, Delaware,
Florida, Idaho, Illinois, Maryland, Massachusetts, Michigan,
Minnesota, Nevada, New Jersey, New York, North Carolina,
Pennsylvania, Texas, Virginia, and Washington, as well as in the
District of Columbia.
Toll Brothers builds an array of luxury residential
single-family detached, attached home, master planned resort-style
golf, and urban low-, mid-, and high-rise communities, principally
on land it develops and improves. The Company operates its own
architectural, engineering, mortgage, title, land development and
land sale, golf course development and management, home security,
and landscape subsidiaries. The Company also operates its own
lumber distribution, house component assembly, and manufacturing
operations. Through its Gibraltar Capital and Asset Management
joint venture, the Company provides builders and developers with
land banking and joint venture capital. The Company acquires and
develops rental apartment and commercial properties through Toll
Brothers Apartment Living, Toll Brothers Campus Living, and the
affiliated Toll Brothers Realty Trust, and develops urban
low-, mid-, and high-rise for-sale condominiums through Toll
Brothers City Living.
In 2017, Toll Brothers was named World’s Most
Admired Home Building Company in Fortune magazine’s survey of the
World’s Most Admired Companies, the third year in a row it has been
so honored. Toll Brothers was named 2014 Builder of the Year by
Builder magazine, and is honored to have been awarded Builder of
the Year in 2012 by Professional Builder magazine, making it the
first two-time recipient. Toll Brothers proudly supports the
communities in which it builds; among other philanthropic pursuits,
the Company sponsors the Toll Brothers Metropolitan Opera
International Radio Network, bringing opera to neighborhoods
throughout the world. For more information, visit
www.tollbrothers.com.
Toll Brothers discloses information about its
business and financial performance and other matters, and provides
links to its securities filings, notices of investor events, and
earnings and other news releases, on the Investor Relations section
of its website (tollbrothers.com/investor-relations).
Forward Looking StatementCertain information
included in this release is forward-looking within the meaning of
the Private Securities Litigation Reform Act of 1995, including,
but not limited to, information related to: anticipated operating
results; anticipated financial performance, resources and
condition; selling communities; home deliveries; average home
prices; consumer demand and confidence; contract pricing; business
and investment opportunities; market and industry trends; and the
anticipated benefits to be realized from the acquisition of Coleman
Homes.
Such forward-looking information involves important
risks and uncertainties that could significantly affect actual
results and cause them to differ materially from expectations
expressed herein and in other Company reports, SEC filings,
statements and presentations. These risks and uncertainties
include, among others: local, regional, national and international
economic conditions; fluctuating consumer demand and confidence;
interest and unemployment rates; changes in sales conditions,
including home prices, in the markets where we build homes;
conditions in our newly entered markets and newly acquired
operations; the competitive environment in which we operate; the
availability and cost of land for future growth; conditions that
could result in inventory write-downs or write-downs associated
with investments in unconsolidated entities; the ability to recover
our deferred tax assets; the availability of capital; uncertainties
in the capital and securities markets; liquidity in the credit
markets; changes in tax laws and their interpretation; effects of
governmental legislation and regulation; the outcome of various
legal proceedings; the availability of adequate insurance at
reasonable cost; the impact of construction defect, product
liability and home warranty claims, including the adequacy of
self-insurance accruals, and the applicability and sufficiency of
our insurance coverage; the ability of customers to obtain
financing for the purchase of homes; the ability of home buyers to
sell their existing homes; the ability of the participants in
various joint ventures to honor their commitments; the availability
and cost of labor and building and construction materials; the cost
of raw materials; construction delays; domestic and international
political events; weather conditions; and the anticipated benefits
to be realized from the acquisition of Coleman Homes. For a more
detailed discussion of these factors, see the information under the
captions "Risk Factors" and "Management's Discussion and Analysis
of Financial Condition and Results of Operations" in our most
recent annual report on Form 10-K and our subsequent quarterly
reports on Form 10-Q filed with the Securities and Exchange
Commission.
Any or all of the forward-looking statements
included in this release are not guarantees of future performance
and may turn out to be inaccurate. Forward-looking statements
speak only as of the date they are made. The Company
undertakes no obligation to publicly update any forward-looking
statements, whether as a result of new information, future events
or otherwise.
CONTACT: Frederick N. Cooper (215)
938-8312fcooper@tollbrothers.com
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