RESTON, Va., Dec. 12, 2017 /PRNewswire/ -- NVR, Inc.
(NYSE: NVR) announced today that its Board of Directors has
authorized the repurchase of $300
million of its outstanding common stock. 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. NVR currently has 3,722,613 total
shares of common stock outstanding.
About NVR
NVR, Inc. operates in two business segments: homebuilding
and mortgage banking. The homebuilding unit sells and builds
homes under the Ryan Homes, NVHomes and Heartland Homes trade
names, and operates in twenty-nine metropolitan areas in fourteen
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.