MHO - M/I Homes announces $100M increase to share repurchase authorization

M/I Homes (NYSE:MHO) board approved an increase in its existing share repurchase authorization by an additional $100M. Existing $100M share repurchase authorization was formed in July 2021, and as of Dec. 31, 2021, there was $48.5M of remaining availability under the authorization. With the increase, the company has increased the available authorization under the program to purchase up to $148.5M of it shares. Current share repurchase authorization forms 10.4% of its current total market cap; YTD, the stock has lost 21%

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M/I Homes announces $100M increase to share repurchase authorization