Lennar Corporation Buyback
OLI recorded this information on 1/10/2019
||Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's leading homebuilders, announced that its Board of Directors authorized the Company to repurchase from time to time up to $1 billion in value, or 25,000,000 in shares, of the Company's outstanding Class A or Class B common stock. The repurchase authorization has no expiration date. The purpose of the authorization is to enable the Company to purchase shares from time to time when its officers deem it appropriate for the Company to do so. During the year ended November 30, 2018, the Company, acting under a prior authorization, repurchased six million shares of its Class A common stock for a total of approximately $250 million.
Lennar is a homebuilder in the United States, an originator of residential and commercial mortgage loans, a provider of title insurance and closing services and a developer of multifamily rental properties. Co.'s homebuilding operations include the construction and sale of single-family attached and detached homes as well as the purchase, development and sale of residential land directly and through unconsolidated entities in which it has investments. Co. operates under the Lennar brand name. Co. creates and participates in joint ventures that acquire and develop land for its homebuilding operations, for sale to third parties or for use in the ventures' own homebuilding operations.
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