NVR, Inc. Announces Share Repurchase

Rhea-AI Summary

NVR, Inc. (NYSE: NVR) has authorized a $300 million stock repurchase program to enhance shareholder value. This initiative continues the company's longstanding commitment to share buybacks, dating back to 1994. The repurchases will be conducted in the open market and/or through private transactions, contingent on market conditions. NVR had 3,697,774 shares outstanding as of December 11, 2020.

Positive

• Authorization of $300 million stock repurchase program.
• Continues a buyback strategy established in 1994.
• Aim to maximize shareholder value.

Negative

• None.

RESTON, Va., Dec. 14, 2020 /PRNewswire/ -- NVR, Inc. (NYSE: NVR) announced today that its Board of Directors has authorized the repurchase of $300 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 December 11, 2020, NVR had 3,697,774 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-two 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:http://www.prnewswire.com/news-releases/nvr-inc-announces-share-repurchase-301192371.html

SOURCE NVR, Inc.

FAQ

What is the total amount NVR is authorized to repurchase?

NVR is authorized to repurchase a total of $300 million of its common stock.

When did NVR start its stock repurchase program?

NVR's stock repurchase program began in 1994.

How many shares of NVR are outstanding?

As of December 11, 2020, NVR had 3,697,774 total shares of common stock outstanding.

What is the purpose of NVR's stock repurchase?

The purpose is to maximize shareholder value.

Where will NVR conduct its stock repurchases?

NVR will conduct repurchases in the open market and/or in privately negotiated transactions.