MERITAGE HOMES CORPORATION (NYSE:MTH) Files An 8-K Other Events
ITEM 8.01OTHER EVENTS
On February 13, 2019, our Board of Directors authorized a new share repurchase program in the amount of $100.0 million. The new authorization follows the completion of the $100.0 million repurchase program previously authorized by the Company’s Board of Directors in July 2018, under which the Company repurchased and retired approximately 2.6 million shares during 2018.
Under the Company’s newly authorized $100.0 million share repurchase program, repurchases of the Company’s shares may be made in the open market, in privately negotiated transactions, or otherwise. The timing and amount of repurchases, if any, will be determined by the Company’s management at its discretion and be based on a variety of factors such as the market price of the Company’s common stock, corporate and contractual requirements, prevailing market and economic conditions and legal requirements. The share repurchase program may be modified, suspended or discontinued at any time. The Company intends to retire any shares repurchased.
About MERITAGE HOMES CORPORATION (NYSE:MTH)
Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family detached homes. It operates in two segments: homebuilding and financial services. It offers a range of homes that are designed to offer to a range of homebuyers. It has homebuilding operations in over three regions: West, which includes Arizona, California Central and East; Central region, which includes Texas, and the East region includes Florida, Georgia, North Carolina, South Carolina and Tennessee. Its homebuilding segment is engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes, and providing warranty and customer services. Its homebuilding and marketing activities are conducted under the Meritage Homes brand, other than in Tennessee, where it operates under the Phillips Builders brand, and in the Atlanta and Greenville markets, where it operates under the Legendary Communities brand.
