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Clayton Homes declares quarterly dividend.

KNOXVILLE, Tenn.--(BUSINESS WIRE)--Feb. 10, 1995--The Board of Directors of Clayton Homes, Inc. (NYSE:CMH) declared the payment of a cash dividend for the third quarter following its meeting on February 9, 1995.

The dividend of 2 cents per share is payable on April 19, 1995 to shareholders of record on March 29, 1995. The Company initiated a cash dividend in January, 1995.

The Board also announced the creation of a dividend reinvestment plan for its shareholders. In addition to the automatic reinvestment of cash dividends, the plan permits cash investments of between $100 and $25,000 per quarter with no expense to the shareholder.

"These actions again illustrate the strong financial position of the Company as well as our commitment and concern for our shareholders," said James L. Clayton, chairman and founder of Clayton Homes.

Clayton Homes is America's largest retailer and the fourth largest builder of manufactured homes. The Company builds, sells, finances and insures manufactured homes and operates communities in a 27-state market. Clayton Homes employs 4,000 people nationwide, including 2,000 in Tennessee, where the Company is headquartered.

CONTACT: Clayton Homes, Inc., Knoxville

Joe Stegmayer, 615/595-4704
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Publication:Business Wire
Date:Feb 10, 1995
Words:193
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