Toll Brothers Inc. said late Tuesday it would start paying a quarterly dividend to shareholders. The Horsham, Pa.-based luxury home builder said its board approved a quarterly dividend of 8 cents a share payable on April 28 to shareholders of record as of April 14. Previously, Toll Brothers said it did not pay a dividend on the belief that “earnings are best utilized by investing in internal growth opportunities, such as expansion within current geographic markets and into new geographic territories,” according to the company’s website. Shares of Toll Brothers slipped 0.4% to $31.86 after hours.
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