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Stock Market & Financial Investment News

News Breaks
January 31, 2013
06:41 EDTPHMPulteGroup authorizes additional $250M per year investment in land development
"We now look ahead to 2013 with expectations for a continued rebound in U.S. housing driven by record low interest rates, higher rent vs. own costs, rising home prices and sharply lower overall housing inventory. Given this expectation, and consistent with our focus on improving long-term returns, we have authorized an additional $250M per year of investment in land and related development in 2013 and 2014. This incremental investment, which will raise planned land spend for each year to approximately $1.2B, will be made using the same disciplined capital investment process we established 18 months ago. The incremental investment is expected to provide additional land resources for use primarily in 2014 and beyond." said Richard J. Dugas, Jr., chairman, president and CEO of PulteGroup.
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