NVR, Inc. Announces Share Repurchase

Rhea-AI Summary

NVR, Inc. (NYSE: NVR) announced a $500 million stock repurchase authorization, underscoring its commitment to maximizing shareholder value. This initiative is part of an ongoing buyback program initiated in 1994. The repurchases will take place in the open market or through privately negotiated transactions as conditions allow. As of November 2, 2021, NVR had 3,478,765 shares of common stock outstanding. This move is seen as a positive step towards enhancing earnings per share (EPS) and investor confidence.

Positive

• Authorization of $500 million for stock buyback supports shareholder value.
• Continuation of a long-term repurchase program initiated in 1994.
• Potentially positive impact on EPS and overall investor confidence.

Negative

• None.

RESTON, Va., Nov. 3, 2021 /PRNewswire/ -- NVR, Inc. (NYSE: NVR) announced today that its Board of Directors has authorized the repurchase of $500 million of its outstanding common stock.  The purchases will occur from time to time in the open market and/or in privately negotiated transactions as market conditions permit.  The Company indicated that the authorization is a continuation of the stock repurchase program that began in 1994 and is consistent with NVR's strategy of maximizing shareholder value.  Consistent with prior authorizations, this new authorization prohibits the Company from purchasing shares from the Company's officers, directors, Profit Sharing/401(k) Plan Trust or Employee Stock Ownership Plan Trust.  As of November 2, 2021, NVR had 3,478,765 total shares of common stock outstanding.

About NVR

NVR, Inc. operates in two business segments:  homebuilding and mortgage banking.  The homebuilding segment sells and builds homes under the Ryan Homes, NVHomes and Heartland Homes trade names, and operates in thirty-three metropolitan areas in fourteen states and Washington, D.C.  For more information about NVR, Inc. and its brands, see www.nvrinc.com, www.ryanhomes.com, www.nvhomes.com and www.heartlandluxuryhomes.com.

View original content:https://www.prnewswire.com/news-releases/nvr-inc-announces-share-repurchase-301415649.html

SOURCE NVR, Inc.

FAQ

What is the purpose of NVR's $500 million stock repurchase program?

The $500 million stock repurchase program aims to maximize shareholder value and potentially enhance earnings per share.

When was NVR's stock repurchase program authorized?

NVR's stock repurchase program was authorized on November 3, 2021.

How many shares of common stock did NVR have outstanding as of November 2, 2021?

As of November 2, 2021, NVR had 3,478,765 shares of common stock outstanding.

Will NVR's stock buyback affect its share price?

While the effect on share price can vary, stock buybacks generally signal confidence in the company, which might positively influence share price.