House builder Cairn Homes announces new €40m share buyback scheme and interim dividend

Irish listed housebuilder Cairn Homes has said it is planning a €45 million share buyback programme and will announce a 3.8 cent interim dividend per ordinary share when its interim results are announced on September 4th.

In terms of trading, Cairn said it has closed 894 unit sales generating revenue of €365 million in the first half of 2024, a 66 per cent year-on-year increase in revenue. The company reaffirmed its full year guidance for 2,200 units, an operating profit of €145 million; and a return on equity of 15 per cent.

“The current ill-health of the rental market perhaps remains a greater challenge for our economy and growing population. In recent years, more than 70,000 homes previously for private rental are no longer available, the majority having been purchased by homebuyers from smaller landlords exiting the market.

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