Since its founding over 70 years ago, PulteGroup has delivered over 800,000 homes and today ranks as the nation’s 3rd largest homebuilding company with operations in 24 states and over 45 major markets. Through our portfolio of leading brands: Centex, Pulte Homes, Del Webb, DiVosta, John Wieland Homes and Neighborhoods, and American West, we are uniquely positioned to serve buyers at every stage of their lives.
Our diversified operating platform provides opportunities for growth and has allowed us to create a more balanced business: 35% first-time buyers, 39% to move-up, and 26% active-adult. Through our Del Webb and DiVosta brands, we are the recognized leader in serving the over-55 buyers as they move toward retirement. In addition to providing multiple avenues for ongoing business expansion, our diversification helps to reduce market risks.
PulteGroup operates against its objectives of delivering high returns on invested capital and equity that, in turn, are expected to generate long-term shareholder value. Our return focus is reflected in our stated capital allocation priorities: 1) invest in the business through high returning projects, 2) fund our dividend, 3) use excess cash to repurchase shares and 4) selectively purchase our outstanding debt to control overall financial leverage. Consistent with these priorities, for the five-year period of 2018 - 2022, the Company invested approximately $17 billion in land acquisition and development, while returning $3.4 billion to shareholders through dividends and share repurchase.