Repurchase program will have $500 million in availability for repurchases
through December 31, 2025
SCOTTSDALE,
Ariz., Dec. 15, 2023 /PRNewswire/ --
Taylor Morrison Home Corporation (NYSE: TMHC) today announced
that its Board of Directors authorized a renewal of its stock
repurchase program through December 31,
2025. The program permits the repurchase of up to
$500 million of the Company's Common
Stock and replaces the Company's prior repurchase authorization
that was scheduled to expire on December 31,
2023.
"Our balanced capital allocation framework aims
to invest in future growth, maintain a healthy capital position and
return capital to shareholders to drive long-term shareholder
value. Enabled by our strong financial performance, we have
repurchased over $1.4 billion of our
shares outstanding since 2015 while also fortifying our balance
sheet and significantly growing our business. Today's renewal
highlights our commitment to that strategy," said Chief Financial
Officer Curt VanHyfte.
Repurchases of the Company's common stock under
the program may occur from time to time in open market purchases,
privately negotiated transactions or other transactions. Future
repurchases under the stock repurchase program are subject to
prevailing market conditions and other considerations, including
the Company's liquidity, the terms of its debt instruments, planned
land investment and development spending, acquisition and other
investment opportunities and ongoing capital requirements.
About Taylor
Morrison
Headquartered in Scottsdale, Arizona, Taylor Morrison is one of the nation's leading
homebuilders and developers. We serve a wide array of consumers
from coast to coast, including first-time, move-up, luxury and
resort lifestyle homebuyers and renters under our family of
brands—including Taylor Morrison,
Esplanade, Darling Homes Collection by Taylor Morrison and Yardly. From 2016-2023,
Taylor Morrison has been recognized
as America's Most Trusted® Builder by Lifestory Research. Our
strong commitment to sustainability, our communities and our team
is highlighted in our latest annual Environmental, Social and
Governance (ESG) Report. For more information about Taylor Morrison, please visit
www.taylormorrison.com.
For more information about Taylor Morrison, please visit
www.taylormorrison.com.
CONTACT: Investor Relations
Taylor Morrison Home Corporation
(480) 734-2060
investor@taylormorrison.com
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SOURCE Taylor Morrison