RESTON, Va., Nov. 9, 2023 /PRNewswire/ -- NVR, Inc. (NYSE: NVR) announced today that its Board of Directors has authorized the repurchase of up to an aggregate of $750 million of its outstanding common stock. The repurchase authorization does not have an expiration date. 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 November 8, 2023, NVR had 3,184,957 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 announce today?
NVR announced the authorization of a $750 million stock repurchase program without an expiration date.
What is the purpose of the repurchase authorization?
The purpose is to maximize shareholder value and is consistent with NVR's strategy.
How will the purchases occur?
The purchases will occur from time to time in the open market and/or in privately negotiated transactions as market conditions permit.
What are the restrictions of the new authorization?
The 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.
How many total shares of common stock does NVR have outstanding?
As of November 8, 2023, NVR had 3,184,957 total shares of common stock outstanding.
