M.D.C. Holdings declares quarterly cash dividend of US$0.25 per share on common stick, to be paid Nov. 22

DENVER , October 24, 2011 (press release) – M.D.C. Holdings, Inc. (NYSE: MDC) today announced that its board of directors has declared a quarterly cash dividend of twenty-five cents ($.25) per share on the Company's common stock. The dividend will be paid on Tuesday, November 22, 2011 to shareowners of record on Tuesday, November 8, 2011.

About M.D.C. Holdings, Inc.

Since 1972, MDC's subsidiary companies have built and financed the American dream for more than 165,000 families. MDC's commitment to customer satisfaction, quality and value is reflected in each home its subsidiaries build. MDC is one of the largest homebuilders in the United States. Its subsidiaries have homebuilding operations across the country, including the metropolitan areas of Denver, Colorado Springs, Salt Lake City, Las Vegas, Phoenix, Tucson, Riverside-San Bernardino, Los Angeles, San Francisco Bay Area, Washington D.C., Baltimore, Philadelphia, Jacksonville and Seattle. The Company's subsidiaries also provide mortgage financing, insurance and title services, primarily for Richmond American homebuyers, through HomeAmerican Mortgage Corporation, American Home Insurance Agency, Inc. and American Home Title and Escrow Company, respectively. M.D.C. Holdings, Inc. is traded on the New York Stock Exchange under the symbol "MDC." For more information, visit www.mdcholdings.com.

SOURCE M.D.C. Holdings, Inc.

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