St. Joe Announces Financial Results for Quarter Ended September 30, 2024

The St. Joe Company, a Florida-based real estate development company, disclosed its financial performance for the quarter ended September 30, 2024, in a press release issued on October 23, 2024. The company reported its results in a filing with the US Securities and Exchange Commission on Form 8-K.

In addition to the financial results, St. Joe also made notable changes to its board of directors. On October 21, 2024, Bruce R. Berkowitz, the Chairman of the Board, informed the company of his decision to retire from the board, effective October 23, 2024. This departure was stated to be independent of any disagreements with the company, its management, or the board. The company shared Mr. Berkowitz’s retirement letter in the filing.

Following Mr. Berkowitz’s retirement, the Board appointed Rhea Goff as a non-independent director, based on the recommendation of the Governance and Nominating Committee. Goff, who currently serves as the Senior Vice President and Chief Administrative Officer of St. Joe, will serve in this new role until the 2025 annual meeting of shareholders or until her successor is elected and qualified.

The filing provided details of Goff’s extensive experience within the company since joining in 2003, starting as a Human Resources Assistant and gradually rising through the ranks to her current position. She holds a bachelor’s degree from Florida State University and has been actively involved in various boards and foundations, showcasing a comprehensive background in corporate governance.

Moreover, the company announced a quarterly cash dividend of $0.14 per share on its common stock. This dividend is set to be payable on December 6, 2024, to shareholders recorded at the close of business on November 7, 2024.

Furthermore, in light of Mr. Berkowitz’s retirement, Jorge L. Gonzalez, the President and Chief Executive Officer of St. Joe, was appointed as the Chairman of the Board, while Howard S. Frank, an independent director, was assigned as the Independent Lead Director, effective October 23, 2024.

For more detailed information and access to the associated exhibits, including the press release and retirement letter, interested parties are directed to the Form 8-K filing on the company’s website.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read St. Joe’s 8K filing here.

St. Joe Company Profile

The St. Joe Company, together with its subsidiaries, operates as a real estate development, asset management, and operating company in Northwest Florida. It operates through three segments: Residential, Hospitality, and Commercial. The Residential segment engages in the development of communities into homesites for sale to homebuilders and on a limited basis to retail customers.