FORT WASHINGTON, Pa., June 15, 2021 (GLOBE NEWSWIRE) – Toll Brothers, Inc. (: TOL) (TollBrothers.com), the nation’s leading luxury home builder, today announced that its board of directors has approved a quarterly cash dividend report to shareholders. The dividend of $ 0.17 per share will be paid on July 23, 2021 to shareholders of record at the close of business on July 9, 2021.
About Toll Brothers
Toll Brothers, Inc., a FORTUNE 500 company, is the nation’s leading builder of luxury homes. The company was founded over 50 years ago in 1967 and became a public company in 1986. Its common shares are listed on the New York Stock Exchange under the symbol “TOL”. The Company serves first-time home buyers, moving house, empty nest, active adult and second home buyers, as well as urban and suburban tenants. Toll Brothers built 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 subsidiaries in architecture, engineering, mortgage, title, land development, golf course development, smart home technology and landscaping. The Company also operates its own lumber distribution, home component assembly and manufacturing businesses.
2021 marks the 10the year Toll Brothers was named one of FORTUNE Magazine’s World’s Most Admired CompaniesÂ® listing. Toll Brothers was also honored as Builder of the Year by Builder Magazine and is the first two-time Builder of the Year recipient by Professional Builder Magazine. For more information, visit TollBrothers.com.
Toll Brothers discloses information on its business and financial performance and other matters, and provides links to its securities filings, investor event notices, results and other press releases, in the Corporate Relations section. investors from its website (investors.TollBrothers.com).
The information presented here for the second quarter ended April 30, 2021 is subject to finalization of the Company’s regulatory documents, related financial and accounting reporting procedures and external audit procedures.
This press release contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate to matters of a strictly historical or factual nature and deal with or concern generally to future events. These statements contain words such as “anticipate”, “estimate”, “expect”, “plan”, “intend”, “plan”, “believe”, “can”, “can”, “Could”, “could”, “should”, “probably”, “will” and other words or expressions with similar meanings. These statements may include, but are not limited to, information and statements regarding: the impact of Covid-19 on the US economy and on our business; inflation and interest rate expectations; the markets in which we operate or may operate; our strategic priorities; our priorities for land acquisition, land development and capital allocation under market conditions; demand for our homes; expected operating results and directions; home deliveries; financial resources and conditions; changes in income; evolution of profitability; changes in margins; changes in accounting treatment; cost of income, including expected labor and material costs; Selling expenses, general and administrative expenses; interest charges; inventory write-downs; warranty and construction defect claims; unrecognized tax benefits; advance tax refunds; sales rhythms and prices; effects of cancellations from home buyers; growth and expansion; joint ventures in which we are involved; the expected results of our investments in non-consolidated entities; our ability to acquire or dispose of land and to seek real estate opportunities; our ability to gain approvals and open up new communities; our ability to market, build and sell homes and properties; our ability to deliver homes from the backlog; our ability to secure materials and subcontractors; our ability to generate the liquidity and capital necessary to conduct normal business operations or to grow and take advantage of opportunities; and the outcome of legal proceedings, investigations and complaints.
All or part of the forward-looking statements included in this press release are not guarantees of future performance and may prove to be inaccurate. This can happen as a result of incorrect assumptions or as a result of known or unknown risks and uncertainties. The main risks and uncertainties – and assumptions made – that affect our business and may cause actual results to differ from these forward-looking statements include, but are not limited to:
- the effects of the ongoing Covid-19 pandemic, which are highly uncertain, cannot be predicted and will depend on future developments, including the severity of the pandemic and its duration, the duration of social distancing and other strategies for ‘mitigation taken by applicable government authorities, the availability and effectiveness of vaccines, tests and adequate therapeutic treatments and the prevalence of generalized immunity to Covid-19;
- the effect of general economic conditions, including employment rates, housing starts, interest rate levels, the availability of financing for mortgages and the strength of the US dollar;
- market demand for our products, which is related to the strength of the various US business segments and to US and international economic conditions;
- the availability of desirable and reasonably priced land and our ability to control, purchase, own and develop such plots;
- access to adequate capital on acceptable terms;
- geographic focus of our operations;
- levels of competition;
- price and availability of raw materials and labor;
- the effect of US trade policies, including the imposition of tariffs and duties on residential construction products and retaliatory measures taken by other countries;
- the effects of weather conditions and the risk of losses due to earthquakes, volcanoes, fires, floods, droughts, windstorms, hurricanes, pest infestations and other natural disasters, and risk of delays, reduced consumer demand, and shortages and increased prices of labor or materials associated with such natural disasters;
- the risk of loss resulting from acts of war, terrorism or epidemics of contagious diseases, such as Covid-19;
- transport costs;
- federal and state tax policies;
- the effect of land use, the environment and other government laws and regulations;
- legal proceedings or litigation and the adequacy of reserves;
- risks associated with unforeseen changes or effects on liabilities, future capital expenditures, income, expenses, profits, indebtedness, financial condition, losses and future prospects;
- changes in accounting principles;
- risks associated with unauthorized access to our computer systems, theft of our confidential information and that of our home buyers or other forms of cyber attack; and
- other factors described in âRisk Factorsâ included in our annual report on Form 10-K for the fiscal year ended October 31, 2020 and in subsequent filings that we file with the Securities and Exchange Commission (âSECâ ).
Many of the factors mentioned above or in other reports or public statements we make will be important in determining our future performance. Therefore, actual results may differ materially from those that could be anticipated from our forward-looking statements.
Forward-looking statements speak only as of the date on which they are made. We do not undertake to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
For more information on the factors that we believe could cause actual results to differ materially from expected and historical results, see the information under the headings âRisk Factorsâ and âManagement’s Discussion and Analysis of Financial Position and results of operations âin our most recent Annual Report on Form 10-K filed with the SEC and in subsequent reports filed with the SEC. This discussion is provided in accordance with 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.
CONTACT: Frederick N. Cooper (215) 938-8312
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