TMHC - Taylor Morrison Extends and Increases Stock Repurchase Program
SCOTTSDALE, Ariz., March 11, 2019 /PRNewswire/ -- Taylor Morrison Home Corporation (NYSE: TMHC) (the "Company") today announced that its Board of Directors has increased the amount available for repurchases under its stock repurchase program by up to $100 million of the Company's Class A Common Stock. 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, 2019.
"We're in a position to make this significant investment due to the strength of our balance sheet and the confidence we have in our business strategy and it is another example of our commitment to drive shareholder value through our capital allocation philosophy," said Sheryl Palmer, chairman and CEO of Taylor Morrison.
Future repurchases under the share repurchase program are subject to prevailing market conditions and other considerations, including the Company's liquidity, the terms of its debt instruments, planned land investment and development spending, acquisition and other investment opportunities and ongoing capital requirements.
The Company has a Rule 10b5-1 trading plan to purchase shares as part of the Company's stock repurchase program and had begun making purchases under the trading plan.
About Taylor Morrison
Taylor Morrison Home Corporation (NYSE: TMHC) is a leading national homebuilder and developer that has been recognized as the 2016, 2017, 2018 and 2019 America's Most Trusted® Home Builder by Lifestory Research. Based in Scottsdale, Arizona we operate under two well-established brands, Taylor Morrison and Darling Homes. We serve a wide array of consumer groups from coast to coast, including first-time, move-up, luxury, and 55 plus buyers. In Texas, Darling Homes builds communities with a focus on individuality and custom detail while delivering on the Taylor Morrison standard of excellence.
For more information about Taylor Morrison and Darling Homes please visit www.taylormorrison.com or www.darlinghomes.com.
CONTACT: Investor Relations
Taylor Morrison Home Corporation
(480) 734-2060
investor@taylormorrison.com
SOURCE Taylor Morrison