Tarragon Looks to Long-Term Projects

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NEW YORK CITY-”Since 2002, we’ve had the wind at our backs in almost everything we did,” said Tarragon Corp. chairman and CEO William S. Friedman during the firm’s year-end results conference call. The firm saw its net income increase 231% last year to $146 million and had consolidated revenue rise up 102%.

Tarragon will have an annual dividend of 10 cents per share payable on May 1 to shareholders of record as of the close of business on April 10 as well as a one million share increase in share repurchase authorization. “As long as the stock is severely undervalued–as we see it today–we will continue to buy,” Friedman said