M.D.C. Holdings Declares Quarterly Cash Dividend

               M.D.C. Holdings Declares Quarterly Cash Dividend

PR Newswire

DENVER, July 21, 2014

DENVER, July 21, 2014 /PRNewswire/ --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 Wednesday, August 20, 2014 to shareowners of record
on Wednesday, August 6, 2014.

About M.D.C. Holdings, Inc.

Since 1972, MDC's subsidiary companies have built and financed the American
dream for more than 175,000 homebuyers. 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 Diego, Orange
County, San Francisco Bay Area, Sacramento, Washington D.C., Baltimore,
Philadelphia, Orlando, Jacksonville, South Florida 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

SOURCE M.D.C. Holdings, Inc.

Website: http://www.mdcholdings.com
Contact: Robert N. Martin, Vice President of Finance and Corporate Controller,
1-866-424-3395 / 720-977-3395, IR@mdch.com
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