KB Home (NYSE:KBH) has declared a quarterly cash dividend of $0.0625 per share of its common stock for the second quarter of 2010. The dividend will be payable on May 20, 2010. It will be paid to shareholders of record as of May 6, 2010.
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KB recently announced that it has received notification to terminate its revolving loan commitment. It’s commitments totaled $200 million with no outstanding amount. $106 million in letters of credit will be transfer. The company states that the termination is in relation to the company’s recent cost savings.
KB Home operates a homebuilding and financial services business serving homebuyers in markets nationwide. It constructs and sells homes through its operating divisions across the United States under the name KB Home. The Company operates in 10 states and 30 markets, including California, Arizona, Nevada, Colorado, Texas, Florida, Maryland, North Carolina, South Carolina and Virginia. The Company’s homebuilding operations offer a variety of homes designed primarily for first-time, first move-up and active adult buyers. The Company’s financial services operations offer mortgage banking, title and insurance services to its homebuyers.
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