KB Home?s Board approved an increase in the quarterly cash dividend on the Company?s common stock to $0.25 per share from $0.20 per share. This 25% increase results in an annualized dividend of $1.00 per share, representing a yield of approximately 1.6%, based on the closing price of KB Home?s common stock on April 17, 2024. The yield is in-line with the Company?s long-standing target of about 1.5%.

Together with the increase the Board authorized in July 2023, the Company has raised its quarterly dividend by 67% in the past nine months. In addition, the Company?s Board of Directors declared a quarterly cash dividend, at the $.25 per share rate, which will be payable on May 23, 2024, to stockholders of record on May 9, 2024.