04:26 PM EDT, 04/18/2024 (MT Newswires) -- KB Home ( KBH ) said late Thursday its board approved the repurchase of up to $1 billion of its shares, replacing its prior program that had $113.6 million remaining.

Share repurchases in 2024 will be in the range of $200 million to $400 million, including $50 million in repurchases completed in Q1, according to the company.

The firm also increased its quarterly dividend to $0.25 per share from $0.20, payable May 23 to shareholders of record May 9.

The company shares were up about 2% in recent after-hours activity.