PulteGroup, Inc. announced that the Company’s Board of Directors has approved a $500 million increase to its share repurchase plan.  As of December 31, 2017, the Company had $94 million of authorization remaining in its share repurchase plan. 

“Since reestablishing our share repurchase program in 2013, we have returned over $2.3 billion to shareholders through our share repurchases,” said Ryan Marshall, President and CEO of PulteGroup.  “This return of capital is consistent with our stated allocation priorities which are to invest in our business, pay our dividend and return excess capital to shareholders.”

“Over the past five years, we have realized significant gains in profitability, cash flows and returns,” added Marshall.  “Given the strength of our operating and financial platform heading into 2018, along with expectations for a continued recovery in housing demand, our Board felt confident authorizing the $500 million increase to our plan.”

The Company expects that share repurchases will be made from time to time in the open market, through privately negotiated transactions or otherwise subject to market conditions, applicable legal requirements, and other relevant factors.