Stock BuybacksBy The Online Investor Staff, updated Sat., May. 8, 6:46 AM
|This Slide: #19 of 25|
Slide #19. Loblaw Companies Limited
Loblaw Companies Limited (TSE:L.CA)
Share Amount Authorized:
Loblaw Companies Limited (Loblaw) announced today that the Toronto Stock Exchange (TSX) has accepted a notice filed by Loblaw of its intention to make a normal course issuer bid (NCIB). The TSX notice provides that Loblaw may, during the 12-month period commencing May 3, 2021 and terminating May 2, 2022, purchase up to 17,106,459 of Loblaw's common shares (Common Shares), representing approximately 5% of the issued and outstanding Common Shares, by way of a NCIB on the TSX or through alternative trading systems or by such other means as may be permitted by the TSX or under applicable law. As of April 19, 2021, Loblaw had 342,129,182 outstanding Common Shares. Based on the average daily trading volume of 644,906 during the last six months, daily purchases will be limited to 161,226 Common Shares, other than block purchase exceptions and purchases from George Weston Limited (GWL), Loblaw's majority shareholder.
Loblaw Companies is a holding company. Through its subsidiaries, Co. has two reportable operating segments: Retail and Financial Services. The Retail segment consists primarily of corporate and franchise-owned retail food and Associate-owned drug stores, and includes in-store pharmacies and other health and beauty products, apparel and other general merchandise. Co.'s Financial Services segment provides credit card services, insurance brokerage services, guaranteed investment certificates and wireless mobile products and services, and operates the PC Optimum loyalty program.
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