From Dow Jones & Company, Inc.:

Lennar raised its annual dividend to $2.00 a share, a 33% increase, and authorized a $5 billion increase to its share-repurchase program. The new dividend boosts the annual yield to about 1.3% based on the closing stock price of $148.16 on Tuesday. Co-Chief Executive Stuart Miller emphasized the strength of the balance sheet, strong cash position, and operating strategy driving cash flow as reasons for focusing more on maximizing total shareholder returns.



Read more: Lennar raises dividend by 33%, ups buyback program by $5 billion