Beazer Homes Adopts New Stock Buyback Program

by Shivani Kumaresan, Benzinga Staff Writer

May 11, 2022 2:56 PM | 1 min read |

Beazer Homes USA Inc BZH Board of Directors has approved a new share repurchase program for up to $50 million of its common shares.
The new authorization replaces a prior share repurchase authorization under which $12 million was remaining.
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.
Beazer held $197.3 million in cash and equivalents as of March 31, 2022.
Price Action: BZH shares are trading higher by 0.69% at $14.49 on the last check Wednesday.