Vornado Realty Trust Buyback
OLI recorded this information on 4/26/2023
Company:
Vornado Realty Trust
Buyback:
VNO buyback
$Amount Authorized:
$200,000,000
Buyback Details:
Vornado Realty Trust (NYSE:VNO) announced today that it will postpone dividends on its common shares until the end of 2023, at which time, upon finalization of its 2023 taxable income, including the impact of asset sales, it will pay the 2023 dividend in either (i) cash, or (ii) a combination of cash and securities, as determined by its Board of Trustees. Vornado also announced that, in order to enhance shareholder value, its Board of Trustees has authorized the repurchase of up to $200 million of its outstanding common shares under a newly established share repurchase program. Cash retained from dividends or from asset sales will be used to reduce debt and/or fund share repurchases.
Vornado Realty Trust is a real estate investment trust and conducts its business through, and substantially all of its interests in properties are held by, Vornado Realty L.P. (the Operating Partnership). Co. is the sole general partner of the Operating Partnership. Co. owns and operates office and retail properties with a concentration in the New York City metropolitan area. In addition, Co. has interest in Alexander's, Inc., which owns properties in the New York metropolitan area, as well as interests in other real estate and investments.
VNO SEC Filing Email Alerts Service
Preferreds: VNORP, VNO.PRF, VNO.PRG, VNO.PRH, VNO.PRI, VNO.PRJ, VNO.PRK, VNO.PRL, VNO.PRM, VNO.PRN, VNO.PRO
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Avg. Broker Rec.
  
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Sell (1.08 out of 4) 0th percentile
(ranked lower than approx. 100% of all stocks covered)
Analysts' Target Price: VNO Stock Forecast Based on Zacks ABR data; powered by Xignite |
