COLUMBUS, Ohio, May 13, 2024
/PRNewswire/ -- M/I Homes, Inc. (NYSE:MHO) today announced that its
Board of Directors approved a new share repurchase authorization,
pursuant to which the Company may purchase up to $250 million of its common shares. The
$250 million authorization replaces
the Company's prior authorization (which had $103 million of remaining availability as of
April 30, 2024).
Such common shares may be purchased through open market
transactions, privately negotiated transactions or otherwise in
accordance with all applicable laws. The timing and amount of any
purchases will be determined by the Company's management at its
discretion based on a variety of factors, including the market
price of the Company's common shares, business considerations,
general market and economic conditions and legal requirements. The
authorization has no expiration date and may be modified,
discontinued or suspended at any time.
M/I Homes, Inc. is one of the nation's leading homebuilders of
single-family homes. The Company has homebuilding operations in
Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St. Paul, Minnesota; Detroit, Michigan; Tampa, Sarasota, Fort
Myers/Naples and
Orlando, Florida; Austin, Dallas/Fort
Worth, Houston and
San Antonio, Texas; Charlotte and Raleigh, North Carolina; and Nashville, Tennessee.
Certain statements in this press release are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Words such as "expects," "anticipates,"
"targets," "envisions," "goals," "projects," "intends," "plans,"
"believes," "seeks," "estimates," variations of such words and
similar expressions are intended to identify such forward-looking
statements. These statements involve a number of risks and
uncertainties. Any forward-looking statements that we make herein
and in any future reports and statements are not guarantees of
future performance, and actual results may differ materially from
those in such forward-looking statements as a result of various
factors, including, without limitation, factors relating to the
economic environment, interest rates, availability of resources,
competition, market concentration, land development activities,
construction defects, product liability and warranty claims and
various governmental rules and regulations, as more fully discussed
in the "Risk Factors" section of the Company's Annual Report on
Form 10-K for the year ended December 31,
2023, as the same may be updated from time to time in our
subsequent filings with the Securities and Exchange Commission. All
forward-looking statements made in this press release are made as
of the date hereof, and the risk that actual results will differ
materially from expectations expressed herein will increase with
the passage of time. We undertake no duty to publicly update any
forward-looking statements, whether as a result of new information,
future events or otherwise. However, any further disclosures made
on related subjects in our subsequent filings, releases or
presentations should be consulted.
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SOURCE M/I Homes, Inc.