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Lennar board approves up to $1B stock repurchase program

Lennar Corp.'s board authorized the company to repurchase up to $1 billion in value, or 25.0 million shares, of its outstanding class A or class B common stock from time to time.

The homebuilder repurchased 6 million shares of its class A common stock for about $250 million under a prior authorization, during the year ended Nov. 30, 2018.