Douglas Elliman declares annual 5% dividend, suspends quarterly cash dividend

Douglas Elliman announced that its Board of Directors has declared an annual stock dividend on its common stock of 5%. The annual stock dividend will be payable on June 30, 2023 to holders of record as of the close of business on June 22, 2023. Douglas Elliman announced that its Board of Directors has suspended the company’s quarterly cash dividend of 5c per share, effective immediately. The amount and payment of an annual stock dividend and any quarterly cash dividend are subject to the Board’s regular evaluation of the company’s dividend policy and capital allocation strategy. As part of this evaluation, the Board determined that instating an annual stock dividend and suspending the quarterly cash dividend at this time is in the best interest of the company and its stockholders. The updated dividend policy is expected to strengthen the company’s balance sheet and position it to deliver long-term stockholder returns.