RESTON, Va., Nov. 6, 2019 /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 November
5, 2019, NVR had 3,678,380 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-two 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.