Lennar Stock Pops on Hiked Dividend, Buyback Program

Lennar Corp (NYSE:LEN) lifted its annual dividend to $2 per share from $1.50, and also raised its stock buyback program by $5 billion. LEN was last seen up 3.6% to trade at $153.56, and earlier came even closer to its Dec. 15 all-time high of $156, after staging a bounce off the $144 level last week. Over the past 12 months, the security added almost 60%.The options pits are seeing increased bullish activity in response. So far today, 2,350 calls have been traded, or double the intraday average amount. Most ...