Pulte Homes To Stop Paying Dividend As Of 2009 1Q
In October, Pulte said the operating environment had significantly worsened in the third quarter as a result of tighter mortgage availability, a rising tide of foreclosures and a glut of unsold homes. The company has been under pressure since the housing bubble popped last year.
The move will save about $40 million a year.
The company will pay its fourth-quarter dividend on Jan. 2 to shareholders of record as of Dec. 22.
Pulte shares closed Monday up 23% at $8.76 as part of a broader rally for stocks. There has been no recent late trading.
-By Jay Miller, Dow Jones Newswires; 201-938-2331; jay.miller@dowjones.com
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(END) Dow Jones Newswires
November 24, 2008 17:27 ET (22:27 GMT)
Publié le 24 novembre 2008 Copyright © 2008 Dowjones
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