NVR, INC. ANNOUNCES SHARE REPURCHASE AUTHORIZATION

Rhea-AI Summary

NVR, Inc. announced a $750 million share repurchase authorization without expiration date. The repurchase program aims to maximize shareholder value and prohibits purchasing from specific entities. NVR has 3,133,092 shares outstanding as of May 6, 2024.

News Market Reaction – NVR

+1.70%

+1.70% Session move

In the trading session that priced this news, NVR gained 1.70%, reflecting a mild positive market reaction.

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RESTON, Va., May 7, 2024 /PRNewswire/ -- 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.

About NVR

NVR, Inc. operates in two business segments: homebuilding and mortgage banking. The homebuilding segment sells and builds homes under the Ryan Homes, NVHomes and Heartland Homes trade names, and operates in thirty-six metropolitan areas in sixteen states and Washington, D.C. For more information about NVR, Inc. and its brands, see www.nvrinc.com, www.ryanhomes.com, www.nvhomes.com and www.heartlandluxuryhomes.com.

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SOURCE NVR, INC.

FAQ

What did NVR, Inc. announce?

NVR, Inc. announced a $750 million share repurchase authorization.

When did NVR, Inc. announce the share repurchase authorization?

NVR, Inc. announced the share repurchase authorization on May 7, 2024.

What is the total number of outstanding shares for NVR as of May 6, 2024?

As of May 6, 2024, NVR had 3,133,092 total shares of common stock outstanding.

What are the business segments of NVR, Inc.?

NVR, Inc. operates in two business segments: homebuilding and mortgage banking.