Kimco Realty Expands Stock Buyback, Adds Preferred Shares

Kimco Realty (KIM) has released an update.

The Company has extended its stock buyback program, allowing for the repurchase of up to $300 million in common stock until 2026, with $224.9 million still up for grabs. Moreover, a new program to buy back preferred stock has been authorized, targeting nearly 891,000 Class L, over 1 million Class M, and 185,000 Class N depositary shares. The timing and methods of these repurchases will be determined by management and will comply with regulatory guidelines. These programs can be adjusted or halted at any time based on market conditions.

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For a comprehensive understanding of the announcement, you can read the full document here.