Tag: capital_return
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Precinct Properties to Return $103m to Shareholders, Rebase FY27 Dividend to 6.50cps After Downtown Exit
Precinct Properties will return $103m to shareholders, launch a $50m buyback and consolidate shares 17-to-16 after halting its Downtown development, rebasing the FY27 dividend to 6.50 cents per share.
BusinessReal EstateFinancial MarketsBankingLegal Precinct PropertiesNZXcapital returnshare buybackshare consolidationdividendDowntown development
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Precinct Abandons Downtown Car Park Development, Returns $153m to Shareholders
Precinct Properties will not proceed with its Downtown Car Park development, citing inflation and high long-term interest rates, and will return about $153 million to shareholders through a capital return and buyback.
BusinessReal EstateFinancial MarketsEconomy Precinct PropertiesDowntown Car Parkshare buybackcapital returnshare consolidationAuckland commercial propertydividend