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Canadian Tire Corporation Announces Renewal of Normal Course Issuer Bid
Canadian Tire Corporation Announces Renewal of Normal Course Issuer Bid Canada NewsWire...
About this update from Canadian Tire Corporation, Limited
[{"type":"text","content":"\n\n\n\n Canadian Tire Corporation Announces Renewal of Normal Course Issuer Bid\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n March 7, 2025\n \n\n /CNW/ - Canadian Tire Corporation, Limited (TSX: CTC) (TSX: CTC.A) (CTC or the Company) announced today that the Toronto Stock Exchange (TSX) has approved the Company's notice of intention to renew its normal course issuer bid (NCIB) for its Class A Non-Voting Shares (Shares).\n \n\n Under the NCIB approved by the TSX, the Company may repurchase up to 4,900,000 Shares between\n \n March 11, 2025\n \n and\n \n March 10, 2026\n \n (2025-26 NCIB), representing approximately 9.8% of the 49,861,546 public float of Shares issued and outstanding as at\n \n February 26, 2025\n \n . There were 52,197,822 total Shares issued and outstanding as at\n \n February 26, 2025\n \n .\n \n\n The Company intends to repurchase Shares under the 2025-26 NCIB to implement its share repurchase intentions and to offset the dilutive effect of the issuance of Shares pursuant to its Dividend Reinvestment and Stock Option Plans, consistent with the Company's policy.\n \n\n Repurchases of Shares pursuant to the 2025-26 NCIB will be made by means of open market transactions through the TSX and/or alternative Canadian trading systems, if eligible, at the market price of the Shares at the time of repurchase or as otherwise permitted under the rules of the TSX and applicable securities laws. Repurchases may also be made as otherwise permitted under applicable law, including by way of private agreements or share repurchase programs under issuer bid exemption orders issued by securities regulatory authorities. Any private repurchase made under an exemption order issued by a securities regulatory authority will generally be at a discount to the prevailing market price.\n \n\n Under the rules of the TSX, during the six months ended\n \n February 28, 2025\n \n , the average daily trading volume of the Shares on the TSX, net of repurchases made by the Company through the TSX, was 260,745, and, accordingl...