Taylor Morrison Extends and Increases Stock Repurchase Program

Rhea-AI Summary

Taylor Morrison Home Corporation (NYSE: TMHC) has announced an increase of up to $250 million for its stock repurchase program, extending it through December 31, 2022. This move reflects the company's commitment to long-term value creation and is supported by a strong outlook for operating cash flow. Since 2015, Taylor Morrison has repurchased around 37 million shares for approximately $735 million, representing 31% of its outstanding shares. Future repurchases will depend on market conditions and various financial considerations.

Positive

• Increased stock repurchase program by $250 million, reflecting commitment to long-term shareholder value.
• Strong outlook for operating cash flow provides flexibility for investments and capital returns.
• Since 2015, approximately 37 million shares repurchased, enhancing shareholder value.

Negative

• None.

SCOTTSDALE, Ariz., June 1, 2021 /PRNewswire/ -- Taylor Morrison Home Corporation (NYSE: TMHC) (the "Company") today announced that its Board of Directors has increased the amount available for repurchases under its stock repurchase program by up to $250 million of the Company's Common Stock.  Repurchases of the Company's Common Stock under the program will occur from time to time in open market purchases, privately negotiated transactions or other transactions through December 31, 2022. 

"The increase in our share repurchase authorization is a reflection of our commitment to creating long-term value through strategic capital allocation," said Chief Financial Officer Dave Cone. "Our strong outlook for operating cash flow has equipped us with flexibility to continue to invest in our business, drive further balance sheet deleveraging and return excess capital to shareholders via share repurchases."

Since 2015, the Company has repurchased a total of approximately 37 million shares for $735 million, representing 31 percent of its shares outstanding. 

Future repurchases under the stock repurchase program are subject to prevailing market conditions and other considerations, including the Company's liquidity, the terms of its debt instruments, planned land investment and development spending, acquisition and other investment opportunities and ongoing capital requirements.

About Taylor Morrison

Headquartered in Scottsdale, Arizona, Taylor Morrison operates under our family of brands—including Taylor Morrison, Esplanade, Darling Homes, William Lyon Signature Series, and Christopher Todd Communities built by Taylor Morrison. We serve a wide array of consumers from coast to coast, including first-time, move-up, luxury and 55-plus active lifestyle buyers. From 2016-2021, Taylor Morrison has been recognized as America's Most Trusted® Builder by Lifestory Research. Our unwavering pledge to sustainability, our communities and our team is highlighted in our 2020 Environmental, Social and Governance (ESG) Report.

For more information about Taylor Morrison, please visit www.taylormorrison.com.

CONTACT: Investor Relations
Taylor Morrison Home Corporation
(480) 734-2060
investor@taylormorrison.com

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SOURCE Taylor Morrison

FAQ

What is the new stock repurchase amount for TMHC?

Taylor Morrison has increased its stock repurchase program by up to $250 million.

When does the TMHC stock repurchase program end?

The stock repurchase program extends through December 31, 2022.

How many shares has TMHC repurchased since 2015?

Since 2015, TMHC has repurchased approximately 37 million shares.

What is the purpose of TMHC's stock repurchase program?

The program aims to create long-term value for shareholders through strategic capital allocation.