D.R. Horton amends loan, allowing for shareholder dividends/distributions

By Sara Rosenberg

New York, July 10 - D.R. Horton, Inc. amended its revolving credit facility, allowing for the payment of dividends or distributions to shareholders, according to an 8-K filed with the Securities and Exchange Commission Tuesday.

Prior to the amendment, there was a restriction that limited the company's ability to pay dividends/distributions to shareholders to an amount equal to 50% of the consolidated net income for the most recent full fiscal year ended prior to the date of the distribution.

The amendment was completed on July 6.

Wachovia is the administrative agent on the deal.

D.R. Horton is a Fort Worth, Texas-based homebuilding company.

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