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It will receive recurring monthly option payments, which will be used to pay predictable dividends to shareholders, and will additionally receive initial deposits and proceeds from the sale of fully developed homesites. Lennar will distribute 80% of the stock of Millrose to Lennar shareholders. billion revolving credit facility.
We are pleased with our second quarter results, which were highlighted by an annualized return on equity of 16.1%, DNII per share that continued to exceed the dividends paid to our shareholders, and a new record for NAV per share for the eighth consecutive quarter.
And by reliably delivering on our commitments to our customers, our team has also been able to deliver sustained value accretion to you, our shareholders. The remaining portion of the investment, which relates to maintaining our existing revenues such as roof replacement, will be categorized as typical as recurring capex.
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