High Liner Foods Incorporated (TSX: HLF) announced this moring that it has received approval to start a normal course issuer bid and buy back previously issued shares. The company may purchase the shares within a one-year timeframe starting on June 23, 2021.
Under the terms of the agreement, High Liner Foods is permitted to buy back 150,000 shares, representing 0.45% of its total outstanding common shares. Following the regulations, the shares will be bought at the prevailing market price at the time of purchase while not exceeding 6,998 shares on any day.
The frozen seafood company last conducted a share buy-back program that expired on March 9, 2021. A total of 60,000 common shares were bought out of the permitted 200,000 shares at an average of $6.64 per share.
High Liner Foods Incorporated last traded at $13.28 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.