Dexus Property Group will undertake an on-market buy-back of up 5 per cent of its securities on issue, as part of its ongoing capital management commitment.
In a statement today, Dexus said its board had approved the move.
Dexus chief executive Darren Steinberg said the buy-back "provides the flexibility to acquire Dexus securities on-market with a focus on enhancing returns to investors and has been initiated following recent market volatility."
If market conditions permit, Dexus will look to buy-back up to five per cent of its securities on offer. At 12.05pm (AEDT) Dexus shares were 0.45 per cent higher at $11.11, against a benchmark index lift of 0.57 per cent.
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Property group's board approves buy-back of up 5% of securities on offer as part of capital management.
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