PulteGroup, Inc. Announces $1.0 Billion Increase to Share Repurchase Authorization

Rhea-AI Summary

PulteGroup (NYSE: PHM) has authorized a $1.0 billion increase to its share repurchase program, bringing the total to $1.2 billion. The company aims to enhance shareholder value, supported by robust operational performance. CEO Ryan Marshall emphasized the commitment to return capital to shareholders while investing in future growth. Since 2016, PulteGroup has returned over $3.0 billion through dividends and share buybacks. This strategic move reflects confidence in their business outlook and reinforces their capital allocation priorities.

Positive

• Authorized $1.0 billion increase in share repurchase program, total now $1.2 billion.
• Returned over $3.0 billion to shareholders since 2016 through dividends and repurchases.
• Indicates strong operational performance and commitment to long-term shareholder value.

Negative

• None.

PulteGroup, Inc. (NYSE: PHM) announced today that its Board of Directors has approved a $1.0 billion increase to the Company’s share purchase authorization. This increase brings the Company’s total share repurchase authorization to $1.2 billion.

“The increase in our share repurchase authorization reflects our expectations for the ongoing strength of our operations and our commitment to creating long-term value for our shareholders,” said Ryan Marshall, PulteGroup President and CEO. “Consistent with our capital allocation priorities, we continue to invest in the future growth of our business, while systematically returning funds to our shareholders through dividends and share repurchases.” Since 2016, PulteGroup has returned over $3.0 billion to its shareholders through the payment of dividends and share repurchases.

About PulteGroup

PulteGroup, Inc. (NYSE: PHM), based in Atlanta, Georgia, is one of America’s largest homebuilding companies with operations in more than 40 markets throughout the country. Through its brand portfolio that includes Centex, Pulte Homes, Del Webb, DiVosta Homes, American West and John Wieland Homes and Neighborhoods, the company is one of the industry’s most versatile homebuilders able to meet the needs of multiple buyer groups and respond to changing consumer demand. PulteGroup’s purpose is building incredible places where people can live their dreams.

For more information about PulteGroup, Inc. and PulteGroup’s brands, go to pultegroup.com; www.pulte.com; www.centex.com; www.delwebb.com; www.divosta.com; www.jwhomes.com; and www.americanwesthomes.com. Follow PulteGroup, Inc. on Twitter: @PulteGroupNews.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210427005195/en/

FAQ

What is the new total of PulteGroup's share repurchase authorization?

PulteGroup's new total share repurchase authorization is $1.2 billion.

How much has PulteGroup returned to shareholders since 2016?

PulteGroup has returned over $3.0 billion to shareholders since 2016.

What does the increase in share repurchase authorization signify for PulteGroup?

The increase signifies strong operational expectations and a commitment to enhancing shareholder value.

Who commented on PulteGroup's share repurchase strategy?

Ryan Marshall, PulteGroup's President and CEO, commented on the share repurchase strategy.

What is the purpose of PulteGroup's share repurchase program?

The purpose is to return capital to shareholders while investing in future growth.