MIAMI, Jan. 14, 2021 /PRNewswire/ — Lennar Corporation (NYSE: LEN and LEN.B), one particular of the nation’s primary homebuilders, announced that its Board of Directors approved the Organization to repurchase from time to time up to the lesser of $1 billion in worth, or 25,000,000 in shares, of the Company’s exceptional Class A or Class B common stock. The repurchase authorization has no expiration date. The intent of the authorization is to permit the Business to invest in shares from time to time when its officers deem it ideal for the Business to do so. Under a prior stock repurchase authorization, which was approved by the Board in January 2019 and was replaced by the present a single, the Corporation repurchased 14 million shares of its Course A and Class B typical stock for a full of $781 million.
Lennar Company, launched in 1954, is 1 of the nation’s primary builders of excellent residences for all generations. Lennar builds inexpensive, move-up and lively grownup properties largely below the Lennar model title. Lennar’s Monetary Providers phase presents home finance loan funding, title and closing companies principally for prospective buyers of Lennar’s houses and, by means of LMF Industrial, originates house loan financial loans secured mostly by industrial true estate homes throughout the United States. Lennar’s Multifamily phase is a nationwide developer of superior-top quality multifamily rental qualities. LENX drives Lennar’s technological know-how, innovation and strategic investments. For much more facts about Lennar, be sure to pay a visit to www.lennar.com.
Some of the statements in this press launch are “forward-on the lookout statements,” as that phrase is described in the Non-public Securities Litigation Reform Act of 1995, such as statements with regards to the stock repurchase authorization. These ahead-hunting statements are subject matter to challenges, uncertainties and assumptions, which includes the chance that no shares are repurchased. Appropriately, these ahead-looking statements really should be evaluated with thing to consider specified to the several pitfalls and uncertainties that could result in actual final results and occasions to vary materially from individuals in the ahead-wanting statements. They include the challenges specific in Lennar’s filings with the SEC, which include the “Chance Factors” segment of Lennar’s Once-a-year Report on Type 10-K for the fiscal 12 months ended November 30, 2019. It is not possible for administration to predict all the probable pitfalls that could impact Lennar or to assess the effect of all probable challenges on Lennar’s business enterprise.
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