8th Jan 2019 08:43
LONDON (Alliance News) - NB Private Equity Partners Ltd on Tuesday declared its first dividend payment for 2019 of two, and has also agreed on a new share buyback.
NB Private Equity will pay a dividend of USD0.28 per share, which reflects a dividend yield of 4.3%, based on its closing price of USD12.98 on Monday.
The company is also to repurchase Class A shares in NB Private Equity.
The maximum price that can be paid is 105% of the average middle market price for the shares for the five days before the purchase.
The share buyback will be managed by Jefferies International Ltd, who will buyback shares on NB Private Equity's behalf.
In addition, NB Private Equity has sold 14 legacy interests for USD19.4 million.
In September, the company undertook a review and sales process of its legacy interests, concluding a sale was the best way forward.
NB Private Equity now has 19 remaining legacy fund interests, which the company expects to dispose of within the next two years.
Shares in NB Private Equity were down 0.6% at 1,016.50 pence on Tuesday.