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

Rhea-AI Summary

PulteGroup, Inc. (NYSE: PHM) has announced a $1.0 billion increase to its share repurchase authorization, raising the total to $1.2 billion. This decision reflects the company's strong operating results and commitment to returning capital to shareholders. CEO Ryan Marshall emphasized that despite market volatility, PulteGroup remains focused on generating long-term shareholder value. Over the past decade, the company has returned over $6 billion to shareholders through dividends and share buybacks.

Positive

• Increased share repurchase authorization by $1.0 billion, totaling $1.2 billion.
• Management's commitment to return funds to shareholders amidst market volatility.
• Historical return of over $6 billion to shareholders over the past decade.

Negative

• None.

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

“Given the strong operating and financial results of our homebuilding operations, we continue to strategically allocate capital to grow our business over time, while maintaining an appropriate capital structure and return funds to our shareholders,” said Ryan Marshall, PulteGroup President and CEO. “Even during this recent period of more volatile market dynamics, we have demonstrated our commitment to returning funds to shareholders as we focus on creating long-term shareholder value.”

Over the past decade, PulteGroup has returned over $6 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/20230425005101/en/

Investors: Jim Zeumer

(404) 978-6434

Email: jim.zeumer@pultegroup.com

Source: PulteGroup, Inc.

FAQ

What is the recent share repurchase authorization increase announced by PulteGroup (PHM)?

PulteGroup announced a $1.0 billion increase to its share repurchase authorization, bringing the total to $1.2 billion.

How much has PulteGroup (PHM) returned to its shareholders in the past decade?

PulteGroup has returned over $6 billion to its shareholders through dividends and share repurchases over the past decade.

What does the CEO of PulteGroup (PHM) say about the company's strategy?

CEO Ryan Marshall stated that the company is committed to strategically allocating capital to grow the business while returning funds to shareholders.

What impact does the share repurchase program have on PulteGroup's (PHM) stock price?

The share repurchase program is generally viewed positively by investors as it can increase shareholder value and potentially boost stock prices.