Taylor Morrison Renews Stock Repurchase Program

Rhea-AI Summary

Taylor Morrison Home Corporation (NYSE: TMHC) has announced a renewal of its stock repurchase program, allowing for the repurchase of up to $250 million of Common Stock through June 30, 2024. This program replaces the previous $250 million authorization set to expire on December 31, 2022. Stock repurchases may occur in open market and private transactions, subject to factors such as market conditions and liquidity. The company's focus remains on a variety of investment opportunities while enhancing shareholder value through this buyback initiative.

Positive

• Authorization of a new stock repurchase program for up to $250 million enhances shareholder value.
• Renewed buyback program reflects management's confidence in TMHC's financial stability.

Negative

• None.

SCOTTSDALE, Ariz., Dec. 13, 2021 /PRNewswire/ -- Taylor Morrison Home Corporation (NYSE: TMHC) (the "Company") today announced that its Board of Directors has authorized a renewal of its stock repurchase program through June 30, 2024. The program permits the repurchase of up to $250 million of the Company's Common Stock and replaces the Company's prior $250 million repurchase authorization that was scheduled to expire on December 31, 2022.

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

About Taylor Morrison

Headquartered in Scottsdale, Arizona, Taylor Morrison is one of the nation's largest homebuilders and developers. We serve a wide array of consumers from coast to coast, including first-time, move-up, luxury and 55-plus active lifestyle homebuyers under our family of brands—including Taylor Morrison, Esplanade, Darling Homes Collection by Taylor Morrison and Christopher Todd Communities built by Taylor Morrison. From 2016-2021, Taylor Morrison has been recognized as America's Most Trusted® Builder by Lifestory Research. Our strong commitment to sustainability, our communities and our team is highlighted in our latest annual 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 amount authorized for the TMHC stock repurchase program?

Taylor Morrison has authorized a stock repurchase program for up to $250 million.

Until when is the TMHC stock repurchase program valid?

The TMHC stock repurchase program is valid through June 30, 2024.

When did TMHC's previous repurchase authorization expire?

The previous TMHC repurchase authorization was set to expire on December 31, 2022.

What conditions affect the TMHC stock repurchase program?

Repurchases are subject to market conditions, liquidity, debt terms, and ongoing capital requirements.