NVR, INC. ANNOUNCES SHARE REPURCHASE

Rhea-AI Summary

NVR has announced a $500 million stock repurchase program, continuing its commitment to maximize shareholder value. This program, which began in 1994, allows for purchases in the open market or through private negotiations as market conditions allow. As of February 15, 2022, NVR had 3,378,726 shares outstanding. This authorization reflects the company's ongoing strategy to enhance shareholder returns without purchasing shares from executives or affiliated plans.

Positive

• Authorization of a $500 million stock repurchase program to enhance shareholder value.
• Continuation of a stock buyback strategy that began in 1994.

Negative

• None.

RESTON, Va., Feb. 16, 2022 /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 February 15, 2022, NVR had 3,378,726 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-four 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-301484239.html

SOURCE NVR, Inc.

FAQ

What is NVR's recent stock repurchase announcement?

NVR announced a $500 million stock repurchase program to enhance shareholder value.

When was the NVR stock repurchase program announced?

The repurchase program was announced on February 16, 2022.

How many shares does NVR currently have outstanding?

As of February 15, 2022, NVR had 3,378,726 shares of common stock outstanding.

What is the purpose of NVR's stock buyback?

The purpose is to maximize shareholder value.