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KKR Real Estate Finance Trust board authorizes buyback program

KKR Real Estate Finance Trust's board has authorized the company to repurchase up to $100 million of its common shares during the period from June 13 through June 30, 2019, effective following the expiration of its current share repurchase program on June 12.

Of this amount, $50.0 million will be covered by a pre-set trading plan and provide for repurchases of the company's common stock when the market price per share of the common stock is below book value per share. The remaining $50.0 million may be used for repurchases in the open market, pursuant to pre-set trading plans in privately negotiated transactions or otherwise.

The company reported net income attributable to common stockholders of $23.3 million, or 44 cents per share, for the quarter ended March 31. In the year-ago period, it was $10.4 million, or 39 cents per share.