NVR, Inc. Announces Share Repurchase
RESTON, Va., July 31, 2014
RESTON, Va., July 31, 2014 /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/401K
Plan Trust or Employee Stock Ownership Plan Trust. NVR currently has
4,194,959 shares of common stock outstanding.
NVR, Inc. operates in two business segments: homebuilding and mortgage
banking. The homebuilding unit sells and builds homes under the Ryan Homes,
NVHomes, Fox Ridge Homes and Heartland Homes trade names, and operates in 27
metropolitan areas in 14 states and Washington, D.C. For more information
about NVR, Inc. and its brands, see www.nvrinc.com, www.ryanhomes.com,
www.nvhomes.com, www.foxridgehomes.com and www.heartlandluxuryhomes.com.
SOURCE NVR, Inc.
Contact: Curt McKay, Office: (703) 956-4058
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