Clayton Homes --NYSE:CMH-- Declares Quarterly Dividend and Policy Change.Business Editors KNOXVILLE, Tenn.--(BUSINESS WIRE)--April 25, 2001 The Board of Directors of Clayton Homes, Inc. (NYSE NYSE See: New York Stock Exchange :CMH CMH Center of Military History CMH Commission on Macroeconomics and Health CMH Chief of Military History CMH Children's Memorial Hospital CMH Ceramic Metal Halide (General Electric light source) CMH Congressional Medal of Honor ) declared a cash dividend of $0.016 per share. The dividend is payable July 18, 2001, to shareholders of record on June 27, 2001. The Clayton Board decided to pay a dividend to its shareholders at its current annual rate of 6.4 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. and will do so on an annual basis starting in January 2002. The change to an annual dividend payment rather than quarterly payments will eliminate multiple administrative and transactions costs Transactions costs The time, effort, and money necessary, including such things as commission fees and the cost of physically moving the asset from seller to buyer. Transcations costs should also include the bid/ask spread as well as price impact costs (for example a large sell . Clayton Homes is a leading vertically integrated company in the manufactured housing industry. It also operates 78 manufactured-home communities and provides a variety of financial services to homebuyers. Clayton Homes, which operates in 33 states, is headquartered in Knoxville, Tenn., and employs 6300 people nationwide. |
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