XML 27 R16.htm IDEA: XBRL DOCUMENT v3.10.0.1
Stockholders' Equity
3 Months Ended
Dec. 31, 2018
Equity [Abstract]  
STOCKHOLDERS' EQUITY
STOCKHOLDERS’ EQUITY

The Company has an automatically effective universal shelf registration statement, filed with the SEC in August 2018, registering debt and equity securities that it may issue from time to time in amounts to be determined. Forestar also has an effective shelf registration statement filed with the SEC in September 2018, registering $500 million of equity securities.

Effective August 1, 2018, the Board of Directors authorized the repurchase of up to $400 million of the Company’s common stock effective through September 30, 2019. During the three months ended December 31, 2018, the Company repurchased 4.1 million shares of its common stock for $140.6 million. The Company’s remaining authorization at December 31, 2018 was $234.9 million.

During the three months ended December 31, 2018, the Board of Directors approved a quarterly cash dividend of $0.15 per common share, which was paid on December 10, 2018 to stockholders of record on November 26, 2018. In January 2019, the Board of Directors approved a quarterly cash dividend of $0.15 per common share, payable on February 25, 2019 to stockholders of record on February 11, 2019. Cash dividends of $0.125 per common share were approved and paid in each quarter of fiscal 2018.