Waste Connections Renews Normal Course Issuer Bid For Share Repurchases Of Up To 12,881,534 Common Shares, Being 5% Of Its 257,630,679 Issued And Outstanding Common Shares As Of August 1, 2023
Portfolio Pulse from Happy Mohamed
Waste Connections, Inc. (NYSE:WCN) has announced the renewal of its normal course issuer bid (NCIB) to repurchase up to 12,881,534 common shares, or 5% of its total issued and outstanding common shares. The repurchases will be made through the Toronto Stock Exchange, the New York Stock Exchange, and/or alternative Canadian trading systems over the next 12 months. The company has not purchased any common shares under the current NCIB, which will expire on August 9, 2023.
August 08, 2023 | 12:12 pm
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Waste Connections plans to repurchase up to 5% of its common shares over the next 12 months. This could potentially increase the stock's price due to the reduced number of shares in circulation.
Share repurchases often lead to an increase in the stock's price as they reduce the number of shares in circulation, thereby increasing earnings per share. However, the actual impact will depend on market conditions and the company's execution of the repurchase plan.
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