KB Home Expands Stock Repurchase Up To 5 Million Shares; Declares Dividend

by Shivani Kumaresan, Benzinga Staff Writer

July 9, 2021 9:30 AM | 1 min read |

KB Home’s KBH board of directors has approved an expansion of the company's stock repurchase program from 2 million shares to up to 5 million shares of the company’s common stock.
The Board of Directors also declared a quarterly cash dividend of $0.15 per share of common stock, payable on August 19, 2021, to stockholders of record on August 5, 2021.
“We want to be positioned to repurchase our shares opportunistically and this increased authorization provides us with that flexibility," said CEO Jeffrey Mezger.
The cash and equivalents of the company totaled $608.1 million as of May 31, 2021.
Price action: KBH shares are trading higher by 1.34% at $39.35 premarket on the last check Friday.