RESTON, Va., Feb. 18, 2015 /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 4,048,671 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.
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SOURCE NVR, Inc.