ATLANTA, May 4, 2016 /PRNewswire/ -- PulteGroup, Inc.
(NYSE: PHM) announced today that, based on proxies submitted to the
Independent Inspector of Election for its 2016 Annual Meeting of
Shareholders, each of the 10 Director nominees received
overwhelming support and have been elected to new one-year
terms.
Each of the Company's Director nominees received the favorable
support of more than 83% of the shares voted. Adjusting for
the shares owned by company founder William
Pulte, who announced his intention to vote against all
Directors, each director received more than 93% of shares
voted.
Richard J. Dugas, Jr., PulteGroup
Chairman and Chief Executive Officer, stated: "Shareholders
have provided a strong expression of support for the Value Creation
strategy PulteGroup initiated in 2011. Since that time, the
strategy has contributed to shareholder returns of 160%, among the
highest of our large homebuilding peers, as significant increases
in pre-tax income have enabled us to invest in our business,
establish one of the industry's strongest balance sheets, and
return funds to shareholders. Our recently reported first
quarter results which showed a 60% increase in earnings per share
underscore our excellent momentum."
Shareholders also ratified the appointment of Ernst & Young
LLP as the company's independent registered public accounting firm,
approved an advisory resolution on executive compensation, and
approved an amendment to extend the term of the company's amended
and restated Section 382 rights agreement.
Forward-Looking Statements
This press release includes "forward-looking statements."
These statements are subject to a number of risks, uncertainties
and other factors that could cause our actual results, performance,
prospects or opportunities, as well as those of the markets we
serve or intend to serve, to differ materially from those expressed
in, or implied by, these statements. You can identify these
statements by the fact that they do not relate to matters of a
strictly factual or historical nature and generally discuss or
relate to forecasts, estimates or other expectations regarding
future events. Generally, the words "believe," "expect,"
"intend," "estimate," "anticipate," "project," "may," "can,"
"could," "might," "will" and similar expressions identify
forward-looking statements, including statements related to
expected operating and performing results, planned transactions,
planned objectives of management, future developments or conditions
in the industries in which we participate and other trends,
developments and uncertainties that may affect our business in the
future.
Such risks, uncertainties and other factors include, among other
things: interest rate changes and the availability of mortgage
financing; continued volatility in the debt and equity markets;
competition within the industries in which PulteGroup operates; the
availability and cost of land and other raw materials used by
PulteGroup in its homebuilding operations; the impact of any
changes to our strategy in responding to the cyclical nature of the
industry, including any changes regarding our land positions; the
availability and cost of insurance covering risks associated with
PulteGroup's businesses; shortages and the cost of labor; weather
related slowdowns; slow growth initiatives and/or local building
moratoria; governmental regulation directed at or affecting the
housing market, the homebuilding industry or construction
activities; uncertainty in the mortgage lending industry, including
revisions to underwriting standards and repurchase requirements
associated with the sale of mortgage loans; the interpretation of
or changes to tax, labor and environmental laws; economic changes
nationally or in PulteGroup's local markets, including inflation,
deflation, changes in consumer confidence and preferences and the
state of the market for homes in general; legal or regulatory
proceedings or claims; our ability to generate sufficient cash flow
in order to successfully implement our capital allocation
priorities; required accounting changes; terrorist acts and other
acts of war; and other factors of national, regional and global
scale, including those of a political, economic, business and
competitive nature. See PulteGroup's Annual Report on Form
10-K for the fiscal year ended December 31,
2015, and other public filings with the Securities and
Exchange Commission (the "SEC") for a further discussion of these
and other risks and uncertainties applicable to our
businesses. PulteGroup undertakes no duty to update any
forward-looking statement, whether as a result of new information,
future events or changes in PulteGroup's expectations.
About PulteGroup
PulteGroup, Inc. (NYSE: PHM), based in Atlanta, Georgia, is one of America's largest
homebuilding companies with operations in approximately 50 markets
throughout the country. Through its brand portfolio that includes
Centex, Pulte Homes, Del Webb,
DiVosta Homes and John Wieland Homes
and Neighborhoods, the Company is one of the industry's most
versatile homebuilders able to meet the needs of multiple buyer
groups and respond to changing consumer demand. PulteGroup conducts
extensive research to provide homebuyers with innovative solutions
and consumer inspired homes and communities to make lives
better.
For more information about PulteGroup, Inc. and PulteGroup
brands, go to www.pultegroupinc.com; www.pulte.com; www.centex.com;
www.delwebb.com; www.divosta.com and www.jwhomes.com.
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SOURCE PulteGroup, Inc.