St. Joe Raises Fourth-Quarter Dividend 13% to $0.18 per Share
Key Facts
St. Joe’s board declared a quarterly cash dividend of $0.18 per share for the fourth quarter on October 28, up 13% from the third-quarter dividend of $0.16. The company set November 12 as the record date for eligible shareholders, with payment scheduled for December 11. The dividend announcement and third-quarter results were issued together in a single statement, contrary to what the sequence of events in the earlier version of the report might have suggested. The results showed declines in revenue and net income attributable to the company compared with the same period last year. By contrast, operating income increased, and hospitality revenue reached a quarterly record, highlighting the mixed signals in the quarter’s metrics.
The company’s third-quarter revenue fell 3% to $156.2 million from $161.1 million in the third quarter of 2025. Net income attributable to St. Joe declined 5% to $36.9 million, or $0.65 per share, compared with $38.7 million, or $0.67 per share, a year earlier. Despite the drops in revenue and net income, operating income rose 16% to $61.5 million from $52.9 million. The figures show operating income moving in a different direction from net income and revenue during the same period. The company reported these metrics in its results for the third quarter ended September 2026.
The company attributed part of the difficulty in making year-over-year comparisons to the Watercrest joint venture’s sale of a senior-living property in the third quarter of 2025. The transaction contributed $41.0 million in real estate revenue and $19.4 million in gross profit at the time, according to the company’s statement. Because those contributions were included in the comparison period, third-quarter 2026 results were measured against a revenue and profit base that included proceeds from the property sale a year earlier. At the same time, not all businesses declined: hospitality revenue rose 9% to a quarterly record of $66.0 million from $60.6 million in the comparable period. Hotel revenue increased 7%, while club revenue rose 14%.
For the first nine months of 2026, the company posted growth compared with the same period in 2025, with revenue rising 8% to $414.1 million from $384.4 million. Net income increased 7% to $91.3 million, or $1.60 per share, compared with $85.7 million, or $1.48 per share. This nine-month total presents a different picture from the standalone third-quarter figures, which showed year-over-year declines in revenue and net income attributable to the company. In the third quarter, St. Joe repurchased $27.2 million of shares and spent $22.8 million on capital expenditures. It also paid $9.1 million in cash dividends and repaid $8.8 million of debt during the quarter.
At the Latitude Margaritaville Watersound project, the company announced a second phase that will add about 3,500 homes to the plan, bringing the total number of planned residential homes to about 7,200. Community sales rose 24% in the first nine months of 2026 compared with the same period in 2025. The figures put the project’s expansion and sales growth among the operating developments the company reported with its third-quarter results. In trading, JOE shares closed at $69.45 on October 22, then at $67.57 on October 23, $68.11 on October 26 and $68.05 on October 27, before closing at $68.13 on October 28. The October 28 close was below the October 22 level, with the stock moving among the closes recorded on the dates cited.