BRAMPTON, Ont. — Loblaw Cos. Ltd. and its parent company George Weston Ltd. say they have both entered into automatic share purchase plans with brokers. The automatic buybacks will form part of the companies’ existing repurchase programs to buy back up to five per cent of their issued and outstanding shares. Loblaw’s program, which runs […]
Loblaw Companies Ltd. and its parent company, George Weston Ltd., have initiated automatic share buyback plans. These plans, part of existing repurchase programs, allow the companies to purchase up to 5% of their issued and outstanding shares with brokers. Loblaw aims to buy back up to 15.3 million shares until May 5, 2024, while George Weston can buy back up to 6.6 million shares until May 26, 2024.
essentially, the Weston family is investing in their companies by reducing the number of outstanding shares, which can increase the value of remaining shares.
Loblaw Companies Ltd. and its parent company, George Weston Ltd., have initiated automatic share buyback plans. These plans, part of existing repurchase programs, allow the companies to purchase up to 5% of their issued and outstanding shares with brokers. Loblaw aims to buy back up to 15.3 million shares until May 5, 2024, while George Weston can buy back up to 6.6 million shares until May 26, 2024. essentially, the Weston family is investing in their companies by reducing the number of outstanding shares, which can increase the value of remaining shares.
