NVR Board Approves $500M Stock Buyback

NVR Inc’s (NYSE:NVR) Board of Directors has approved the repurchase of $500 million of its outstanding common stock.
The company indicated that the approval is a continuation of the stock repurchase program that began in 1994.
The approval prohibits the company from buying shares from its officers, directors, Profit Sharing/401(k) Plan Trust, or Employee Stock Ownership Plan Trust.
As of August 3, 2021, NVR had 3.56 million total shares of common stock outstanding.
Price action: NVR shares are trading lower by 0.56% at $5265.65 on the last check Wednesday.

Benzinga