NVR, INC. ANNOUNCES SHARE REPURCHASE AUTHORIZATION

Rhea-AI Summary

NVR, Inc. (NYSE: NVR) has authorized a $500 million repurchase of its common stock. This initiative follows a long-standing program since 1994, aimed at enhancing shareholder value. The shares will be acquired in the open market or through private transactions, depending on market conditions. As of May 3, 2022, NVR had 3,288,055 shares outstanding. The new authorization excludes purchases from the Company’s officers, directors, and employee trusts, maintaining a strategy focused on maximizing shareholder returns.

Positive

• Authorization of a $500 million stock repurchase, indicating strong confidence in the company's future.
• Continuation of a long-standing share repurchase program since 1994, demonstrating commitment to maximizing shareholder value.
• Current total shares outstanding at 3,288,055, allowing for effective buyback without significant market disruption.

Negative

• None.

RESTON, Va., May 4, 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 May 3, 2022, NVR had 3,288,055 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 recent stock repurchase authorization?

The purpose is to enhance shareholder value through a $500 million buyback program.

When was NVR's stock repurchase authorization announced?

It was announced on May 4, 2022.

How much stock is NVR planning to repurchase?

NVR plans to repurchase up to $500 million of its outstanding common stock.

How many shares of common stock does NVR have outstanding?

As of May 3, 2022, NVR had 3,288,055 total shares of common stock outstanding.

Does the stock buyback program exclude any individuals or entities?

Yes, it prohibits purchasing shares from the Company’s officers, directors, and employee trusts.