Beazer Homes USA Approves New Share Repurchase Program - Quick Facts

(RTTNews) - Beazer Homes USA, Inc. (BZH) said its Board has approved a new share repurchase program authorizing management to repurchase up to $50 million of the company's outstanding common stock. The authorization replaces a prior share repurchase authorization pursuant to which $12 million of capacity was remaining. The company expects to fund repurchases with cash on hand and cash generated from operations.

The company also reiterated its expectation to achieve a net debt to net capitalization ratio below 50% and its commitment to bring total debt below $1 billion by the end of fiscal 2022.