Note 19 - Stockholders' Equity

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

19. Stockholders' Equity

Cash Dividends.

In each of the years ended

December 31, 2018,

2017

and

2016,

we paid dividends of

$1.20

per share,

$0.93

per share and

$0.88

per share, respectively

Stock Dividends.

On

November 20, 2017,

MDC’s board of directors approved an

8%

stock dividend that was distributed on

December 19, 2017

to shareholders of record on

December 5, 2017.

On

November 21, 2016

MDC’s board of directors approved a

5%

stock dividend that was distributed on

December 20, 2016

to shareholders of record on

December 6, 2016.

Common Stock Repurchase Program

. At

December 31, 2018,

we were authorized to repurchase up to

4,000,000

shares of our common stock. We did

not

repurchase any shares of our common stock during the years ended

December 31, 2018,

2017

or

2016.

We did

not

hold any treasury stock at

December 31, 2018.