Lennar declares Millrose spin-off dividend: 1 share per 2 Lennar shares; record and distribution dates set

LENNAR CORP /NEW/

Record date Jan 21, 2025; distribution prior to trading on Feb 7, 2025.
Election period to choose Millrose Class B stock runs Jan 21 to Feb 3, 2025.
When-issued trading in Millrose Class A under MRP WI expected Feb 5, 2025.
Spin-off is taxable to Lennar stockholders; Millrose will list Class A on NYSE as MRP.
Approximately 80% of Millrose stock will be distributed; spin-off is a step toward land-light model.

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