RESTON, Va., Aug. 1, 2018
/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. As of July 31, 2018, NVR
had 3,617,322 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-one 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.