RESTON, Va., Nov. 3 /PRNewswire-FirstCall/ -- NVR, Inc. (AMEX: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. NVR currently has 5,968,368 shares of common stock outstanding.
The Company also announced it will present at the UBS Building and Building Products CEO Investor Conference on Thursday, November 3, 2005 at 2:30 p.m. EST.
The presentation, including a live audio web-cast, will be available on the Investor Relations section of NVR's website, http://www.nvrinc.com/. The Company's presentation materials will be available on its web site for the next twelve months.
NVR is headquartered in Reston, Virginia and is one of the largest homebuilders in the United States. DATASOURCE: NVR, Inc.
CONTACT: Dan Malzahn of NVR, Inc., +1-703-956-4204 Web site: http://www.nvrinc.com/
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