NVR, INC. ANNOUNCES SHARE REPURCHASE AUTHORIZATION

Rhea-AI Summary

NVR, Inc. (NYSE: NVR) has authorized a $500 million stock repurchase program, continuing its efforts to maximize shareholder value initiated in 1994. The share buybacks will take place in the open market and/or in private transactions, aligned with market conditions. This authorization prohibits purchases from company officers, directors, and trusts. As of August 1, 2022, NVR had 3,282,665 shares of common stock outstanding. The company's operations are divided into homebuilding and mortgage banking across several states and Washington, D.C.

Positive

• Continuation of a long-term stock repurchase program shows commitment to enhancing shareholder value.
• Significant buyback amount of $500 million may positively impact earnings per share (EPS) by reducing shares outstanding.

Negative

• None.

RESTON, Va., Aug. 3, 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 August 1, 2022, NVR had 3,282,665 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.

 

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SOURCE NVR, Inc.

FAQ

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

The purpose is to maximize shareholder value as part of NVR's ongoing strategy since 1994.

When was NVR's stock repurchase program authorized?

The stock repurchase program was authorized on August 3, 2022.

How many shares of common stock does NVR have outstanding?

As of August 1, 2022, NVR had 3,282,665 shares of common stock outstanding.

Will NVR buy back shares from its officers or directors?

No, the authorization prohibits the company from purchasing shares from its officers, directors, or certain trusts.

How does the stock repurchase program impact NVR's stock price?

The buyback program could potentially increase NVR's stock price by reducing the number of shares outstanding and signaling confidence in the company's future.