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Sun Life Receives Regulatory Approval for Launch of its Normal Course Issuer Bid
Sun Life Receives Regulatory Approval for Launch of its Normal Course Issuer Bid Canada...
About this update from Sun Life Financial Inc.
[{"type":"text","content":"\n \n \n \n Sun Life Receives Regulatory Approval for Launch of its 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.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Aug. 24, 2023\n \n \n /CNW/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) (the \"Company\") announced today that the Office of the Superintendent of Financial Institutions and the Toronto Stock Exchange (the \"TSX\") have approved the Company's previously announced normal course issuer bid to purchase up to 17,000,000 of its common shares (\"common shares\") (representing approximately 2.9% of the 587,055,100 common shares issued and outstanding as at\n \n August 17, 2023\n \n ) (the \"NCIB\").\n \n \n \n \n \n \n \n \n \n The NCIB will provide the Company with the flexibility to acquire common shares in order to return capital to shareholders as part of its overall capital management strategy.\n \n \n The NCIB will commence on\n \n August 29, 2023\n \n and continue until\n \n August 28, 2024\n \n , such earlier date as the Company may determine, or such date as the Company completes its purchases of common shares pursuant to the NCIB. The average daily trading volume on the TSX for the six months ending\n \n July 31, 2023\n \n was 2,210,738 common shares (the \"ADTV\"). In accordance with the TSX rules, the Company may purchase up to 552,684 of its common shares on the TSX during any trading day, which represents 25% of the ADTV, subject to the TSX rules permitting block purchases.\n \n \n Purchases under the NCIB may be made through the facilities of the TSX, other Canadian stock exchanges and/or alternative Canadian trading platforms, at prevailing market rates. Subject to regulatory approval, purchases under the NCIB may also be made by way of private agreements or ...