ARLINGTON, Texas, March 4 /PRNewswire-FirstCall/ -- D.R. Horton, Inc.
(NYSE: DHI) Monday, (March 4, 2002) announced that the Board of Directors
declared a 3 for 2 stock split (effected as a 50% stock dividend), which will
be payable on April 9, 2002 to holders of record of the Company's common stock
as of the close of business on March 26, 2002. Cash will be paid in lieu of
fractional shares.
Donald R. Horton, Chairman, said, "We believe this stock split will
benefit our shareholders by increasing our public float and improving the
liquidity of our common stock. The Company is having an outstanding fiscal
year and is poised for another record year in 2002."
Founded in 1978, D.R. Horton, Inc. is engaged in the construction and sale
of high quality homes designed principally for the entry-level and first time
move-up markets. D.R. Horton currently builds and sells homes under the
D.R. Horton, Arappco, Cambridge, Continental, Dietz-Crane, Dobson, Emerald,
Mareli, Melody, Milburn, Regency, Schuler, SGS Communities, Stafford, Torrey,
Trimark, and Western Pacific names in 21 states and 42 markets, with a
geographic presence in the Midwest, Mid-Atlantic, Southeast, Southwest and
Western regions of the United States. The Company also provides mortgage
financing and title services for homebuyers through its mortgage and title
subsidiaries.
Portions of this document may constitute "forward-looking statements" as
defined by the Private Securities Litigation Reform Act of 1995. Although the
Company believes any such statements are based on reasonable assumptions,
there is no assurance that actual outcomes will not be materially different.
All forward-looking statements are based upon information available to the
Company as of the date of this press release. The Company undertakes no
obligation to update or revise any forward-looking statements, whether as a
result of new information, future results or otherwise. Factors that may
cause the actual results to be materially different from the future results
expressed by the forward-looking statements include, but are not limited to:
changes in general economic, real estate and business conditions; changes in
interest rates and the availability of mortgage financing; governmental
regulation and environmental matters; the Company's substantial leverage;
competitive conditions within the industry; the availability of capital and
the Company's ability to successfully effect growth strategies. Additional
information about issues that could lead to material changes in performance is
contained in the Company's annual report on Form 10-K and most recent
quarterly report on Form 10-Q, which are filed with the Securities and
Exchange Commission.
WEBSITE ADDRESS: www.DRHORTON.com
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X37718372
SOURCE D.R. Horton, Inc.
Web site: http: //www.drhorton.com
Company News On-Call: http: //www.prnewswire.com/comp/118697.html
CONTACT: Sam Fuller, CFO, or Stacey Dwyer, EVP, both of D.R. Horton, Inc., +1-817-856-8200
