Cairn Homes hits a point of maturity with these results; trading is good and the land bank is long (c15 years), but in addition, it is announcing its inaugural and progressive biannual dividend payment, and embarking on a €25m share buy-back plan. We retain our buy rating and set a Target Price of 160€c.
12 Sep 2019
First dividend and initial share buy-back
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First dividend and initial share buy-back
Cairn Homes PLC (CRN:LON) | 137 0.3 0.1% | Mkt Cap: 882.9m
- Published:
12 Sep 2019 -
Author:
Andy Murphy -
Pages:
3
Cairn Homes hits a point of maturity with these results; trading is good and the land bank is long (c15 years), but in addition, it is announcing its inaugural and progressive biannual dividend payment, and embarking on a €25m share buy-back plan. We retain our buy rating and set a Target Price of 160€c.