Couche-Tard Gets TSX Green Light to Buy Back up to 10% of Public Float
By Adriano Marchese
Alimentation Couche Tard said Monday that it will renew its share repurchase program to buy back up to 10% of its issued and outstanding shares over the course of the next one-year period.
The Canadian convenience-store operator said that the Toronto Stock Exchange approved the renewal of its normal course issuer bid to buy back about 78.1 million shares.
Shares are relatively flat so far in the year, falling about 0.4% year-to-date and closing on Friday at 77.75 Canadian dollars ($56.88). The stock is up 15% over the last 52 weeks.
At Friday's closing price, the shares would be worth about C$6.07 billion.
Couche-Tard can begin buying back shares on May 1.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
April 29, 2024 08:25 ET (12:25 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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