Company: KW
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001408100-25-000084
Chunk: 202

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 202
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 trading price of its common stock, the Company's determination of the appropriate sources of funding for the Company, and potential uses of funding available.Common Stock Repurchase ProgramOn March 20, 2018, the Company announced that its board of directors authorized a $250.0 million stock repurchase program.  Repurchases under the program may be made in the open market, in privately negotiated transactions, through the net settlement of the Company’s restricted stock grants or otherwise, with the amount and timing of repurchases dependent on market conditions and subject to the Company’s discretion. On November 4, 2020, the Company's board of directors authorized an expansion of its existing $250 million share repurchase plan to $500 million.During the year ended December 31, 2024, Kennedy Wilson repurchased and retired 1,565,775 shares for $13.3 million. During the year ended December 31, 2023, Kennedy Wilson repurchased and retired 666,701 shares for $7.5 million under the previous stock repurchase program.  Generally, upon vesting, the restricted stock units granted to employees is net share-settled such that the Company will withhold shares with value equivalent to the employees’ minimum statutory obligation for the applicable income and other employment taxes, and remit the cash to the appropriate taxing authorities. See Note 14 for more detail.

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Table of ContentsKennedy-Wilson Holdings, Inc.Notes to Consolidated Financial Statements—(continued)December 31, 2024 2023 and 2022

Dividend DistributionsKennedy Wilson declared and paid the following cash dividends on its common stock:(Dollars in millions)Year Ended December 31, 2024Year Ended December 31, 2023DeclaredPaidDeclaredPaidPreferred Stock$43.5 $43.5 $38.0 $35.5 Common Stock(1)82.6 100.2 133.6 136.0 (1) The difference between declared and paid is the amount accrued on the consolidated balance sheets.Taxability of Dividends Earnings and profits, which determine the taxability of distributions to stockholders, may differ from income reported for financial reporting purposes due to the differences for federal income tax purposes in the treatment of revenue recognition, compensation expense, derivative investments and the basis of depreciable assets and estimated useful lives used to compute depreciation.The Company's dividends related to its common stock will be classified