The board of directors of The Ryland Group, Inc. reduced the quarterly cash dividend from $0.12 per share to $0.03 per share for the Company's common stock. Therefore, the board of directors of The Ryland Group, Inc. (NYSE:RYL), has declared a fourth-quarter dividend of $0.03 per share, payable on Jan. 30, 2009, to common stockholders of record on Jan. 15, 2009.
Headquartered in Southern California, Ryland is one of the nation's largest homebuilders and a leading mortgage-finance company. Since its founding in 1967, Ryland has built more than 275,000 homes and financed more than 235,000 mortgages. The Company currently operates in 15 states and 19 homebuilding divisions across the country and is listed on the New York Stock Exchange under the symbol "RYL." For more information, please visit www.ryland.com.