Benzinga | Aug 4, 2021 03:24PM EDT

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.