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D.R. HORTON, INC. ANNOUNCES SPECIAL 5 PERCENT STOCK DIVIDEND AND CHANGE TO SEPT. 30 FISCAL YEAR END

 ARLINGTON, Texas, Aug. 10 /PRNewswire/ -- D.R. Horton, Inc. (NASDAQ: DRHI) Tuesday announced that the board of directors declared a special 5 percent stock dividend payable on Sept. 30, 1993 to holders of record of the company's common stock as of the close of business on Aug. 31, 1993. Cash will be paid in lieu of fractional shares. The board also voted to change the company's fiscal year end from Dec. 31 to Sept. 30, starting in 1993. As a result, the company's 1993 fiscal year will cover a nine month reporting period.
 Donald R. Horton, chairman and president, said, "D.R. Horton, Inc. is having an excellent year, and we wanted to share our success with our stockholders. The special stock dividend provides benefit to our stockholders without detracting from our growth plans. The change to a September 30 year end, better aligns the company's business and financial reporting cycles and permits the company to commence its fiscal year with its traditionally strongest quarter."
 D.R. Horton, Inc. is engaged in the construction and sale of high- quality, single family homes with custom features designed principally for the entry-level and move-up markets in the Mid-Atlantic, Midwest, Southeast, Southwest, and Western regions of the United States.
 -0- 8/10/93
 /CONTACT: Richard Beckwitt, EVP or David J. Keller, EVP, D.R. Horton, Inc., 817-856-8200/
 (DRHI)


CO: D.R. Horton, Inc. ST: Texas IN: CST SU: DIV

LG -- NY022 -- 1082 08/10/93 09:39 EDT
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Publication:PR Newswire
Date:Aug 10, 1993
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