NVR, Inc. Announces Share Repurchase

Rhea-AI Summary

NVR, Inc. (NYSE: NVR) has authorized a $500 million stock repurchase, continuing its long-standing commitment to maximizing shareholder value. The buyback will occur through open market purchases and privately negotiated transactions, reflecting the company's strategy initiated in 1994. As of May 4, 2021, NVR has 3,637,106 shares outstanding. This repurchase program aims to enhance shareholder returns and confidence in NVR’s future performance.

Positive

• Authorized a $500 million stock repurchase to enhance shareholder value.
• Continuation of a long-term buyback strategy that began in 1994.
• Demonstrates confidence in the company's future performance.

Negative

• None.

RESTON, Va., May 5, 2021 /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 4, 2021, NVR had 3,637,106 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-three 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?

The $500 million stock repurchase aims to maximize shareholder value and reflect confidence in NVR's future performance.

When was the stock repurchase authorized for NVR?

The stock repurchase was authorized on May 5, 2021.

How many shares of common stock does NVR have outstanding?

As of May 4, 2021, NVR had 3,637,106 shares of common stock outstanding.

What will be the method of NVR's stock repurchase?

NVR will conduct the stock repurchase through open market purchases and privately negotiated transactions.