By Dean Seal
The directors of homebuilder NVR have authorized the repurchase of $500 million in shares.
The Reston, Va.-based company said Wednesday it will make the purchases in the open market or in privately negotiated transactions.
The share-repurchase authorization is a continuation of a previous buyback program launched in 1994.
NVR is prohibited from repurchasing shares from its own officers and directors.
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