RTTNews | Apr 22, 2021 06:52AM EDT

06:51 Thursday, April 22, 2021 (RTTNews.com) - While reporting financial results for the second quarter on Thursday, home builder D R Horton Inc. (DHI) raised its revenue guidance for the full-year 2021, based on current market conditions and the company's results for the first half of fiscal 2021.

For fiscal 2021, the company now projects consolidated revenues in a range of $26.8 billion to $27.5 billion on Homes closed between 82,500 homes and 84,500 homes.

Previously, the company expected consolidated revenues in a range of $25.2 billion to $25.8 billion on Homes closed between 80,000 homes and 82,000 homes.

On average, 14 analysts polled by Thomson Reuters expect the company to report revenues of $25.87 billion for the year.

Subsequent to quarter-end, the Company declared a quarterly cash dividend of $0.20 per common share that is payable on May 20, 2021 to stockholders of record on May 10, 2021.

The Company's Board of Directors also authorized a new $1.0 billion stock repurchase authorization replacing the Company's previous authorization. The new authorization has no expiration date.

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