RESTON, Va., Aug. 2, 2023 /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 July 31, 2023, NVR had 3,264,331 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-five metropolitan areas in fifteen 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 did NVR, Inc. announce?
NVR, Inc. announced a $500 million stock repurchase program.
How will the stock repurchases be made?
The stock repurchases will be made in the open market or through negotiated transactions.
Is this a new program?
No, this authorization continues the company's stock repurchase program that started in 1994.
What is the purpose of the stock repurchase program?
The program aims to maximize shareholder value.
Who is excluded from the stock repurchase program?
The program excludes purchases from the company's officers, directors, Profit Sharing/401(k) Plan Trust, or Employee Stock Ownership Plan Trust.
How many total shares of common stock does NVR have?
As of July 31, 2023, NVR had 3,264,331 total shares of common stock outstanding.
