Homebuilding revenue increased 8% to $4.4 billion, while homes closed in the quarter increased 11%. Net sales orders in the quarter rose 11% while the value of net sales orders grew 10%.
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Homes in inventory at September 30, 2018 increased 13% to 29,700 homes. The company’s land and lot portfolio comprised 289,000 lots, of which 43% were owned and 57% were controlled through option contracts.
During the fourth quarter of 2018, DR Horton paid cash dividends of $47.1 million. Subsequent to year-end, the company declared a quarterly cash dividend of $0.15 per common share, an increase of 20% from its most recent dividend. This dividend is payable on December 10, 2018 to shareholders of record on November 26, 2018.