NorthStar Realty Europe Corp. (NYSE: NRE) a European-focused real estate company, managed by an affiliate of NorthStar Asset Management Group Inc. (NYSE: NSAM), a global asset management firm, announced that its Board of Directors has authorized the repurchase of up to $100 million of its outstanding common stock.
PRNewswire reports that the repurchase will occur from time to time and such authorization will expire in twelve months, unless extended by the corporation's Board of Directors. The report adds, "The repurchase program will be utilized at management's discretion and in accordance with the requirements of the Securities and Exchange Commission. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate requirements and other conditions."
The press release may include forward looking statements such as "will, expect" and other similar expressions. The company also disclaims obligations to publicly announce any updates or changes to any other forward looking statements contained in the press release "to reflect any change in its expectations with regard thereto or change in events, conditions or circumstances on which any statement is based."
NorthStar Realty Europe also gives no guarantee that expectations will be attained since forward looking statements are speculative in nature, some of the assumptions may or may not materialize and when it does, possibly vary from the actual results.
In related news, NorthStar Realty Europe also announced, on Nov. 23 that "its Board of Directors has declared a cash dividend of $0.15 per share of common stock, payable with respect to the quarter ended September 30, 2015. The dividend is expected to be paid on Dec. 11 to shareholders of record as of the close of business on Dec. 7. NorthStar Realty Europe's common shares will begin trading ex-dividend on Dec. 3."
