NVR, Inc., a homebuilding and mortgage banking company based in Reston, Va., recently announced that its Board of Directors has approved a share repurchase program of up to $750 million. This authorization does not have an expiration date and will be utilized to repurchase the company’s common stock from time to time in open market or privately negotiated transactions, as market conditions allow. NVR’s strategy is to maximize value for its shareholders, which is why it has continued this stock repurchase program. The company’s 3,186,147 total shares of common stock outstanding as of February 12, 2024.
Operating in 36 metropolitan areas in fifteen states and Washington D.C., NVR, Inc.’s two business segments are homebuilding and mortgage banking. Under the trade names Ryan Homes, NVHomes, and Heartland Homes, NVR, Inc. sells and constructs homes. For more information about NVR, Inc. and its brands, visit http://www.nvrinc.com, http://www.ryanhomes.com, http://www.nvhomes.com, and http://www.heartlandluxuryhomes.com.
The company has noted that the stock repurchase authorization prohibits purchasing shares from officers, directors, Profit Sharing/401(k) Plan Trust, or Employee Stock Ownership Plan Trust, in accordance with previous authorizations.
If you’d like to find out more about NVR, Inc., please feel free to reach out to a company representative or visit their website.
SOURCE: NVR, INC.
Image credit: PR Newswire
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