Great-West Lifeco Gets TSX Approval to Buy Back 2.14% of Public Float
By Adriano Marchese
Great-West Lifeco said Thursday that it intends to renew its share repurchase program to buy back about 2.14% of its issued and outstanding common shares over a one-year period.
The Canadian insurer said that the Toronto Stock Exchange approved the renewal of its normal course issuer bid to buy back up to 20 million common shares.
Shares have been advancing over the last 52 weeks, rising over 26% and closing on Wednesday at 43.84 Canadian dollars ($32.42).
At Wednesday's closing price, the value of the shares would be worth about C$876.8 million.
Great-West Lifeco's buyback period will begin on Jan. 29 and run until Jan. 28 of next year.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
January 25, 2024 08:23 ET (13:23 GMT)
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