trending Market Intelligence /marketintelligence/en/news-insights/trending/fe-sttn-vsecg4hhoaxfqg2 content esgSubNav
In This List

Lendlease plans A$500M on-market buyback program

Blog

Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise

Blog

FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


Lendlease plans A$500M on-market buyback program

Lendlease Corp. Ltd. CFO Tarun Gupta said the company is planning to buy back up to A$500 million of the company's shares on the market.

Gupta noted the plan has been approved by the board and is subject to the ongoing review of the company's surplus capital position, market conditions and growth opportunities.

The CFO of the Australia-listed company — which has global exposure to property development, management and construction — also said the capital management initiative is attributable to the company's "robust" financial results backed by the strong performance from its development segment underpinned by the residential sector.

For the half-year ended Dec. 31, 2017, Lendlease's profit after tax grew 8% on the year to A$425.6 million and its net operating and investing cash flow was recorded at A$825.2 million. The company also announced a 34 cent-per-stapled-security interim distribution, which is up 3%.