Key Developments: D.R. Horton Inc (DHI.N)
19 Sep 2014
Latest Key Developments (Source: Significant Developments)
DR Horton Inc announced that the Board of Director has declared a cash dividend of $0.15 per share. The accelerated dividend is payable on December 21, 2012 to stockholders of record on December 17, 2012. Full Article
DR Horton Inc announced that it has received additional lending commitments from five banks to increase the capacity of its five-year senior unsecured revolving credit facility to $600 million. The facility has also been amended to include an uncommitted accordion feature which could increase the facility to $1 billion, subject to certain conditions and availability of additional bank commitments. The facility’s letter of credit sublimit is 50% of the revolving credit commitment, or $300 million. The Royal Bank of Scotland plc remains the Sole Lead Arranger and Administrative Agent of the facility. The additional lenders joining the facility as Co-Arrangers are Citibank N.A.; Deutsche Bank Trust Company Americas; JPMorgan Chase Bank, N.A.; UBS AG, Stamford Branch and Wells Fargo Bank. Full Article
- Lennar Corp, the second largest U.S. homebuilder, reported a better-than-expected 47 percent jump in quarterly profit as it sold more homes at higher prices, and its shares rose as much as 6 percent in premarket trading.