Kennedy Wilson Europe has bought £50.1m of shares in its £100m buyback scheme, according to its third-quarter update.
The company also completed £57.1m in disposals at a 3.4% premium on book value in the quarter as part of its second non-core disposal programme, which has a target of £200m.
A dividend of 12p per share will be paid in the fourth quarter to reach a target of 48p for the year – a dividend yield of 4.7%.
Charlotte Valeur, chair of Kennedy Wilson Europe Real Estate, said: “The share buyback programme of up to £100m illustrates KWE’s commitment to balance sheet management and capital efficiency, particularly when capital markets remain turbulent, while leaving the company with sufficient liquidity to capitalise on potential future market opportunities.”
Kennedy Wilson Europe said it was planning to grow in both the UK, where it saw potential in repriced assets, and Dublin, which it believed could benefit from potential Brexit-related moves.
• Analysis: Will others follow Kennedy Wilson’s share buyback?
• From September: KWE launches £100m share buyback
• From September: Kennedy Wilson Europe issues another £200m in new bonds
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