BRIEF: Dallas-based homebuilder Centex suspends cash stock dividend

Thu. October 09, 2008; Posted: 06:28 PM

Oct 09, 2008 (The Dallas Morning News - McClatchy-Tribune Information Services via COMTEX) -- CTX | Quote | Chart | News | PowerRating -- Dallas-based homebuilder Centex Corp. said Thursday that it is suspending its cash stock dividend because of deteriorating economic conditions.

The company said that during the last four quarters it has paid about $20 million in dividends.

On Thursday, Centex's stock closed at down 14 percent for the day at $10.17 -- a new low for the year.

Moody's Investors Service on Wednesday downgraded of Centex's debt ratings.

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For full details on Centex Corp (CTX) click here. Centex Corp (CTX) has Short Term PowerRatings of 3. Details on Centex Corp (CTX) Short Term PowerRatings is available at This Link.

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