Exhibit 99.2
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FOR IMMEDIATE RELEASE
MARCUS & MILLICHAP EXPANDS CAPITAL ALLOCATION STRATEGY BY
INITIATING DIVIDEND POLICY
- DECLARES INITIAL $0.25 PER SHARE SEMI-ANNUAL REGULAR DIVIDEND -
- DECLARES $1.00 PER SHARE SPECIAL DIVIDEND -
CALABASAS, Calif., February 17, 2022 – Marcus & Millichap Inc. (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today that its Board of Directors has declared an initial semi-annual regular dividend of $0.25 per share, or approximately $10.4 million, payable on April 4, 2022 to shareholders of record as of the close of business on March 8, 2022.
In addition, the Board of Directors declared a special dividend of $1.00 per share, or approximately $41.7 million, payable on April 4, 2022, to shareholders of record at the close of business on March 8, 2022. Any and all future dividends are subject to review and approval by the Board of Directors.
Hessam Nadji, President and CEO, stated, “We continue to prioritize maintaining a strong balance sheet with ongoing strategic investments and further scaling our accretive acquisitions to drive long-term growth. At the same time, the introduction of a semi-annual dividend reflects our confidence in the company’s operating performance and our commitment to maximizing shareholder value.”
Mr. Nadji continued, “With our long-term track record of growth and cash generation, the Board believes we are well positioned to supplement the regular dividend with a special dividend to enhance returns for shareholders without limiting growth capital.”
About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2021, the Company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
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