NVR, Inc. Announces Share Repurchase

Rhea-AI Summary

NVR, Inc. (NYSE: NVR) has authorized a $500 million stock repurchase program, continuing its strategy to enhance shareholder value. The repurchases will happen in the open market and privately negotiated transactions as market conditions allow. This program, which has been in place since 1994, excludes purchases from company officers and trusts. As of August 3, 2021, NVR had 3,565,555 shares outstanding, indicating a solid commitment to return capital to shareholders while managing its outstanding stock efficiently.

Positive

• Authorization of a $500 million stock repurchase program to enhance shareholder value.
• Continuation of a long-term stock repurchase strategy established in 1994.
• The program aims to return capital efficiently to shareholders.

Negative

• None.

RESTON, Va., Aug. 4, 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 August 3, 2021, NVR had 3,565,555 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-301348550.html

SOURCE NVR, Inc.

FAQ

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

The program aims to enhance shareholder value by reducing the number of outstanding shares.

When was the stock repurchase program authorized?

The $500 million repurchase program was authorized on August 4, 2021.

How many shares of common stock does NVR have outstanding?

As of August 3, 2021, NVR had 3,565,555 shares of common stock outstanding.

Can NVR buy back shares from its officers or directors?

No, the repurchase authorization prohibits buying shares from officers, directors, and certain trusts.

How long has NVR been conducting stock repurchases?

NVR's stock repurchase program has been active since 1994.