Taylor Morrison Home Corporation, Scottsdale (NYSE: TMHC) on Monday announced that its board authorized an extension of its stock repurchase program until Dec. 31, 2018.
The board also increased the amount available for repurchases under the program to a maximum total amount of $100 million of the Company’s Class A Common Stock. The repurchase program had been due to expire on Dec. 31, 2017 and had $56.4 million remaining under the existing authorization that is being extended and increased. Repurchases of the Company’s Class A Common Stock under the program will occur from time to time in open market purchases, privately negotiated transactions or other transactions through Dec. 31, 2018.
“Our stock repurchase program continues to provide us flexibility within our broader capital allocation strategy, allowing us the opportunity to acquire stock at attractive valuation levels,” said Sheryl Palmer, Chairman, President and CEO of Taylor Morrison. “We believe the extension and increase of our stock repurchase program indicates the strength of our balance sheet, demonstrates confidence in our growth strategy and delivers on our commitment to driving shareholder returns.”
