Stockholders' Equity

3 Months Ended

Dec. 31, 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.

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. During the three months ended December 31, 2024, the Company repurchased 6.8 million shares of its common stock at a total cost, including commissions and excise taxes, of $1.1 billion. At December 31, 2024, there was $2.5 billion remaining on the repurchase authorization. The authorization has no expiration date.

During the three months ended December 31, 2024, the Board of Directors approved a quarterly cash dividend of $0.40 per common share totaling $128.5 million, which was paid on November 19, 2024 to stockholders of record on November 12, 2024. In January 2025, the Board of Directors approved a quarterly cash dividend of $0.40 per common share, payable on February 14, 2025 to stockholders of record on February 7, 2025.

Forestar has an effective shelf registration statement, filed with the SEC in September 2024, registering $750 million of equity securities, of which $300 million is reserved for sales under its at-the-market equity offering (ATM) program that was entered into in November 2024. During the three months ended December 31, 2024, there were no shares issued under the ATM program. At December 31, 2024, the full $750 million remained available for issuance under Forestar’s shelf registration statement, with $300 million reserved for sales under the ATM program.