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Stockholders' Equity
12 Months Ended
Sep. 30, 2024
Equity [Abstract]  
Stockholders' Equity STOCKHOLDERS’ EQUITY
D.R. Horton has an automatically effective universal shelf registration statement, filed with the SEC in July 2024, registering debt and equity securities that it may issue from time to time in amounts to be determined. At September 30, 2024, the Company had 402,848,342 shares of common stock issued and 324,027,360 shares outstanding. No shares of preferred stock were issued or outstanding.

In July 2024, the Board of Directors authorized the repurchase of up to $4.0 billion of the Company’s common stock, replacing the previous authorization. The authorization has no expiration date. During fiscal 2024, the Company repurchased 12.5 million shares of its common stock at a total cost, including commissions and excise taxes, of $1.8 billion, of which $1.4 billion was repurchased under previous authorizations. At September 30, 2024, there was $3.6 billion remaining on the repurchase authorization.

The Board of Directors approved and the Company paid quarterly cash dividends of $0.30 per common share in fiscal 2024 and $0.25 per common share in fiscal 2023. In October 2024, the Board approved a quarterly cash dividend of $0.40 per common share, payable on November 19, 2024 to stockholders of record on November 12, 2024. Cash dividends declared and paid in fiscal 2024 totaled $395.2 million.

Forestar had an effective shelf registration statement, filed with the SEC in October 2021, registering $750 million of equity securities, of which $300 million was reserved for sales under an at-the-market equity offering (ATM) program. During fiscal 2024, Forestar issued 546,174 shares of common stock under its ATM program for proceeds of $19.7 million, net of commissions and other issuance costs totaling $0.4 million. In September 2024, Forestar filed a new shelf registration statement, which became effective in October 2024, registering $750 million of equity securities. At the time of filing the new registration statement, $728.1 million of equity securities remained available for issuance under Forestar’s prior registration statement, which has since expired. Forestar’s ATM program expired in October 2024, and Forestar anticipates entering into a new ATM program under its September 2024 shelf registration statement.