M.D.C. Holdings Declares Dividend Of $1.00 Per Share To Accelerate Payment Of Calendar Year 2013 Dividends

M.D.C. Holdings Declares Dividend Of $1.00 Per Share To Accelerate Payment Of
                         Calendar Year 2013 Dividends

PR Newswire

DENVER, Dec. 13, 2012

DENVER, Dec. 13, 2012 /PRNewswire/ -- M.D.C. Holdings, Inc. (NYSE: MDC) today
announced that its board of directors has declared a cash dividend of one
dollar ($1.00) per share on the Company's common stock. This dividend is in
lieu of declaring and paying regular quarterly dividends in calendar year
2013. The accelerated dividend is payable on December 28, 2012 to stockholders
of record on December 24, 2012.

About M.D.C. Holdings, Inc.

Since 1972, MDC's subsidiary companies have built and financed the American
dream for more than 170,000 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.

Website: http://www.mdcholdings.com
Contact: Robert N. Martin, Vice President of Finance, +1-720-977-3431,
bob.martin@mdch.com