IRVINE, Calif.--(BUSINESS WIRE)--
TRI Pointe Group, Inc. (NYSE: TPH) today announced that its Board of
Directors has approved a $100 million stock repurchase program,
effective January 26, 2016.
Under the program, the company may repurchase common stock with an
aggregate value of up to $100 million through January 25, 2017. The
share repurchase program does not obligate the company to repurchase any
particular amount of common stock, and it could be modified, suspended
or discontinued at any time. The timing and amount of repurchases are
determined by the company’s management at its discretion based on a
variety of factors such as the market price of its common stock,
corporate requirements, general market and economic conditions and legal
requirements. Purchases of the company’s common stock may be made in
open market transactions effected through a broker-dealer at prevailing
market prices, in block trades, or by other means in accordance with
federal securities laws.
About TRI Pointe Group, Inc.
Headquartered in Irvine, California, TRI Pointe Group, Inc. (NYSE: TPH)
is one of the top ten largest public homebuilders by equity market
capitalization in the United States. The company designs, constructs and
sells premium single-family homes through its portfolio of six quality
brands across eight states, including Maracay Homes in Arizona; Pardee
Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker
Homes in Texas; TRI Pointe Homes in California and Colorado; and
Winchester Homes in Maryland and Virginia. Additional information is
available at www.tripointegroup.com.
This press release is for informational purposes only and is neither an
offer to buy nor the solicitation of an offer to sell, any stock of TRI
Pointe Group Inc.’s common stock.
Forward-Looking Statements
Various statements contained in this press release, including those that
express a belief, expectation or intention, as well as those that are
not statements of historical fact, are forward-looking statements. Our
forward-looking statements are generally accompanied by words such as
“estimate,” “project,” “predict,” “believe,” “expect,” “intend,”
“anticipate,” “potential,” “plan,” “goal,” “will,” or other words that
convey future events or outcomes. The forward-looking statements in this
press release speak only as of the date of this press release, and we
disclaim any obligation to update these statements unless required by
law, and we caution you not to rely on them unduly. These
forward-looking statements are inherently subject to significant
business, economic, competitive, regulatory and other risks,
contingencies and uncertainties, most of which are difficult to predict
and many of which are beyond our control. The following factors, among
others, may cause our actual results, performance or achievements to
differ materially from any future results, performance or achievements
expressed or implied by these forward-looking statements: the effect of
general economic conditions, including employment rates, housing starts,
interest rate levels, availability of financing for home mortgages and
strength of the U.S. dollar; market demand for our products, which is
related to the strength of the various U.S. business segments and U.S.
and international economic conditions; levels of competition; the
successful execution of our internal performance plans, including
restructuring and cost reduction initiatives; global economic
conditions; raw material prices; oil and other energy prices; the effect
of weather; the risk of loss from earthquakes, volcanoes, fires, floods,
droughts, windstorms, hurricanes, pest infestations and other natural
disasters; transportation costs; federal and state tax policies; the
effect of land use, environment and other governmental regulations;
legal proceedings; risks relating to any unforeseen changes to or
effects on liabilities, future capital expenditures, revenues, expenses,
earnings, synergies, indebtedness, financial condition, losses and
future prospects; the risk that disruptions from the Weyerhaeuser Real
Estate Company (“WRECO”) transaction will harm our business; our ability
to achieve the benefits of the WRECO transaction in the estimated amount
and the anticipated timeframe, if at all; our ability to integrate WRECO
successfully and to achieve the anticipated synergies therefrom; changes
in accounting principles; our relationship, and actual and potential
conflicts of interest, with Starwood Capital Group or its affiliates;
and additional factors discussed under the sections captioned “Risk
Factors” included in our annual and quarterly reports filed with the
Securities and Exchange Commission. The foregoing list is not
exhaustive. New risk factors may emerge from time to time and it is not
possible for management to predict all such risk factors or to assess
the impact of such risk factors on our business.
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Source: TRI Pointe Group, Inc.