NVR Announces $750M Share Buyback Program, Repurchase Authorization Has No Expiration Date

Author: Benzinga Newsdesk | May 07, 2024 02:23pm

NVR, Inc. (NYSE:NVR) announced today that its Board of Directors has authorized the repurchase of up to an aggregate of $750 million of its outstanding common stock. The repurchase authorization does not have an expiration date. The purchases will occur from time to time in the open market and/or in privately negotiated transactions as market conditions permit. The Company indicated that the authorization is a continuation of the stock repurchase program that began in 1994 and is consistent with NVR's strategy of maximizing shareholder value. Consistent with prior authorizations, this new authorization prohibits the Company from purchasing shares from the Company's officers, directors, Profit Sharing/401(k) Plan Trust or Employee Stock Ownership Plan Trust. As of May 6, 2024, NVR had 3,133,092 total shares of common stock outstanding.

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