Housing

Homebuilder Cuts Dividend (KBH)

KB Home (NYSE: KBH) announced late yesterday that the company’s quarterly dividend for its second fiscal quarter ending in May will be reduced from $0.0625 to $0.025. In the announcement, the company’s CEO spelled out the problem even while trying to make it sound like good news:

Having ended the first quarter with a value of homes in backlog 30% greater than the year before, and with increases in all four regions of the business, we see signs that the housing market is recovering. This modification in the dividend will help us to take advantage of growth opportunities while continuing KB Home’s 25-year tradition of paying quarterly dividends to its stockholders.

In other words, KB Home needs the cash more than shareholders do.

Shareholders don’t seem to mind either. Shares of KB Home are up 3.3% at $8.48 in the pre-market, in a 52-week range of $5.02-$13.12.

Paul Ausick

100 Million Americans Are Missing This Crucial Retirement Tool

The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.

Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.

A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.

Click here to learn how to get a quote in just a few minutes.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.