GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--
Century Communities, Inc. (NYSE:CCS), a leading national homebuilder,
today announced that its Board of Directors has authorized a stock
repurchase program under which the Company may repurchase up to
4,500,000 shares of its outstanding common stock.
The shares may be repurchased from time to time in open market
transactions at prevailing market prices, in privately negotiated
transactions or by other means in accordance with federal securities
laws. The actual manner, timing, amount and value of share repurchases
under the stock repurchase program will be determined by management at
its discretion and will depend on a number of factors, including the
market price of the Company’s common stock, trading volume, other
capital management objectives and opportunities, applicable legal
requirements, and general market and economic conditions.
The Company intends to finance any stock repurchases through available
cash and its revolving credit facility. Repurchases may also be made
under a trading plan under Rule 10b5-1, which would permit shares to be
repurchased when Century might otherwise be precluded from doing so
because of self-imposed trading blackout periods or other regulatory
restrictions. There is no guarantee as to the number of shares that will
be repurchased, and the stock repurchase program may be extended,
suspended or discontinued at any time without notice at the Company’s
discretion. As of October 31, 2018, the Company had approximately 30.8
million shares of common stock outstanding.
About Century Communities
Century Communities, Inc. (NYSE:CCS) is a top-10 U.S. homebuilder.
Century is engaged in all aspects of homebuilding, including the
acquisition, entitlement and development of land, along with the
construction, innovative marketing and sale of quality homes designed to
appeal to a wide range of homebuyers. The Colorado-based Company sells
its Century Communities and Wade Jurney Homes in 15 states across the
West, Mountain, Texas and Southeast U.S. regions and offers title and
lending services in select markets through its Parkway Title, IHL
Insurance Agency, and Inspire Home Loan subsidiaries. To learn more
about Century Communities please visit www.centurycommunities.com.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, and, as
such, may involve known and unknown risks, uncertainties and
assumptions. Forward-looking statements may be identified by the use of
words such as “anticipate,” “believe,” “expect,” “estimate,” “plan,”
“outlook,” and “project” and other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. Forward-looking statements should not be read as a
guarantee of future performance or results, and will not necessarily be
accurate indications of the times at, or by, which such performance or
results will be achieved. Forward-looking statements are based on
historical information available at the time the statements are made and
are based on management’s reasonable belief or expectations with respect
to future events, and are subject to risks and uncertainties, many of
which are beyond the Company’s control, that could cause actual
performance or results to differ materially from the belief or
expectations expressed in or suggested by the forward-looking
statements. The following important factors could cause actual results
to differ materially from those expressed in the forward-looking
statement: adverse changes in general economic conditions, ability to
identify and acquire desirable land, availability of financing, the
effect of interest rate and tax changes, reliance on contractors, and
the other factors included in the Company’s most recent Annual Report on
Form 10-K. Forward-looking statements speak only as of the date on which
they are made and the Company undertakes no obligation to update any
forward-looking statement to reflect future events, developments or
otherwise, except as may be required by applicable law.
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Investor Relations:
303-268-8398
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Source: Century Communities, Inc.