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By Robb M. Stewart
Canaccord Genuity plans to buy back up to 5% of its outstanding common shares over a one-year period.
The Canadian financial-services company said Thursday it filed a normal course issuer bid with the Toronto Stock Exchange that could see it buy up to just under 5 million of its shares for cancellation.
Canaccord hasn’t repurchased any shares under the prior normal course issuer bid approved by the TSX, which runs through Aug. 20. The new buyback program is set to begin Aug. 21 and will expire Aug. 20, 2024.
The company’s shares last closed at C$8.51, up 1.4% so far this year, but down 4.2% over the last 12 months.
Write to Robb M. Stewart at [email protected]
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