NVR, INC. ANNOUNCES SHARE REPURCHASE AUTHORIZATION

Rhea-AI Summary

NVR Inc (NYSE: NVR) announced a new $750 million share repurchase authorization approved by its Board of Directors. This continuation of the stock repurchase program, which began in 1994, has no expiration date and will be executed through open market and private transactions based on market conditions. The authorization prohibits purchasing shares from company officers, directors, and specific trust funds. As of December 10, 2024, NVR had 3,039,944 total shares outstanding. NVR operates in homebuilding and mortgage banking segments, with homebuilding operations across 36 metropolitan areas in 16 states and Washington, D.C.

Positive

• Authorization of $750 million share repurchase program
• No expiration date on the repurchase authorization provides flexibility
• Continuation of long-running program demonstrates consistent shareholder value focus
• Relatively small float of ~3 million shares suggests significant potential impact on share price

Negative

• Large cash commitment could limit funds available for operational growth
• Market-dependent execution may affect repurchase timing and effectiveness

RESTON, Va., Dec. 11, 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 December 10, 2024, NVR had 3,039,944 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

How much is NVR's new share repurchase authorization worth?

NVR's Board of Directors has authorized a share repurchase program worth up to $750 million of its outstanding common stock.

When does NVR's 2024 share repurchase authorization expire?

The share repurchase authorization announced on December 11, 2024, does not have an expiration date.

How many shares does NVR have outstanding as of December 2024?

As of December 10, 2024, NVR had 3,039,944 total shares of common stock outstanding.

When did NVR's stock repurchase program originally begin?

NVR's stock repurchase program originally began in 1994, and this new authorization is a continuation of that program.

Who is restricted from selling shares back to NVR under this repurchase program?

The authorization prohibits purchasing shares from company officers, directors, Profit Sharing/401(k) Plan Trust, or Employee Stock Ownership Plan Trust.