Loblaw Gets TSX Green Light to Buy Back Up to 5% of Public Float

Published: 2025-05-02 07:38:09 ET L.TO

Published on 05/02/2025 at 07:38

By Adriano Marchese

Loblaw intends to launch a share-repurchase program to buy back up to 5% of its shares over a one-year period.

The Canadian grocer said Friday that the Toronto Stock Exchange has approved its plan to buy back up to 15 million shares for cancellation by way of a normal course issuer bid.

Shares have grown since the year began, rising about 18% and closing on Thursday at 223.85 Canadian dollars ($161.56).

At that price, the value of the shares for buyback would be worth about C$3.35 billion.

Loblaw can begin buying back shares starting on May 6.

Write to Adriano Marchese at [email protected]

(END) Dow Jones Newswires

05-02-25 0737ET