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 $0.11 per share will be paid on
July 27, 2018 to shareholders of record on the close of business on
July 13, 2018.
Toll Brothers, Inc., A FORTUNE 500 Company, is
the nation's leading builder of luxury homes. The Company
began business 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 move-up,
empty-nester, active-adult, and second-home buyers, as well as
urban and suburban renters. It operates in 22 states:
Arizona, California, Colorado, Connecticut, Delaware, Florida,
Georgia (Toll Brothers Apartment Living), Idaho, Illinois,
Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey,
New York, North Carolina, Pennsylvania, Texas, Utah, 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
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. The Company operates its own
architectural, engineering, mortgage, title, land development and
land sale, golf course development and management, and landscape
subsidiaries. Toll Brothers also operates its own security
company, TBI Smart Home Solutions, which also provides homeowners
with home automation and technology options. The Company also
operates its own lumber distribution, house component assembly, and
manufacturing operations. Through its Gibraltar Real Estate
Capital joint venture, the Company provides builders and developers
with land banking, non-recourse debt and equity capital.
In 2018, Toll Brothers was named World’s Most
Admired Home Building Company in Fortune magazine’s survey of the
World’s Most Admired Companies, the fourth 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 website (tollbrothers.com/investor-relations).
Forward Looking StatementsThis release contains
or may contain forward-looking statements within the meaning of
Section 27A of the Securities Act and Section 21E of the Exchange
Act. One can identify these statements by the fact that they
do not relate to matters of a strictly historical or factual nature
and generally discuss or relate to future events. These
statements contain words such as “anticipate,” “estimate,”
“expect,” “project,” “intend,” “plan,” “believe,” “may,” “can,”
“could,” “might,” “should” and other words or phrases of similar
meaning. Such statements may include, but are not limited to,
anticipated operating results; home deliveries; financial resources
and condition; changes in revenues; changes in profitability;
changes in margins; changes in accounting treatment; cost of
revenues; selling, general and administrative expenses; interest
expense; inventory write-downs; home warranty and construction
defect claims; unrecognized tax benefits; anticipated tax refunds;
sales paces and prices; effects of home buyer cancellations; growth
and expansion; joint ventures in which we are involved; anticipated
results from our investments in unconsolidated entities; the
ability to acquire land and pursue real estate opportunities; the
ability to gain approvals and open new communities; the ability to
sell homes and properties; the ability to deliver homes from
backlog; the ability to secure materials and subcontractors; the
ability to produce the liquidity and capital necessary to expand
and take advantage of opportunities; and legal proceedings,
investigations and claims.
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. Consequently, actual results may
differ materially from those that might be anticipated from our
forward-looking statements. Therefore, we caution you not to
place undue reliance on our forward-looking statements.
The factors that could cause actual results to
differ from those expressed or implied by our forward-looking
statements include, among others: demand fluctuations in the
housing industry; adverse changes in economic conditions in markets
where we conduct our operations and where prospective purchasers of
our homes live; increases in cancellations of existing agreements
of sale; the competitive environment in which we operate; changes
in interest rates or our credit ratings; the availability of
capital; uncertainties in the capital and securities markets; the
ability of customers to obtain financing for the purchase of homes;
the availability and cost of land for future growth; the ability of
the participants in various joint ventures to honor their
commitments; effects of governmental legislation and regulation;
effects of increased taxes or governmental fees; weather
conditions; the availability and cost of labor and building and
construction materials; the cost of raw materials; the outcome of
various product liability claims, litigation and warranty claims;
the effect of the loss of key management personnel; changes in tax
laws and their interpretation; construction delays; and the
seasonal nature of our business. For a more detailed
discussion of these factors, see the risk factors in 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 filed
with the SEC.
From time to time, forward-looking statements
also are included in our periodic reports on Forms 10-K, 10-Q and
8-K, in press releases, in presentations, on our website and in
other materials released to the public.
Any or all of the forward-looking statements
included in our reports or public statements made by us are not
guarantees of future performance and may turn out to be inaccurate.
This can occur as a result of incorrect assumptions or as a
consequence of known or unknown risks and uncertainties. Many
factors mentioned in our reports or public statements made by us,
such as market conditions, government regulation, and the
competitive environment, will be important in determining our
future performance. Consequently, actual results may differ
materially from those that might be anticipated from our
forward-looking statements.
This discussion is provided as permitted by the
Private Securities Litigation Reform Act of 1995, and all of our
forward-looking statements are expressly qualified in their
entirety by the cautionary statements contained or referenced in
this section.
Forward-looking statements speak only as of the
date they are made. We undertake no obligation to publicly
update any forward-looking statements, whether as a result of new
information, future events or otherwise.
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/38f872f5-b99d-4366-a10f-90bb153e1988
CONTACT: Frederick N. Cooper (215)
938-8312fcooper@tollbrothers.com
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