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.
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, 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.