Reported Earlier, Gildan Activewear Boosts Normal Course Issuer Bid To Repurchase Up To 10% Of Public Float Or ~17.12M Common Shares
Portfolio Pulse from Benzinga Newsdesk
Gildan Activewear has received approval from the Toronto Stock Exchange to amend its Normal Course Issuer Bid (NCIB) to repurchase up to 10% of its public float, or approximately 17.12 million common shares. This is an increase from the previous limit of 5%.
May 30, 2024 | 7:19 am
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Gildan Activewear has increased its share repurchase program to 10% of its public float, which could positively impact its stock price in the short term.
Increasing the share repurchase program to 10% of the public float indicates strong confidence from the company in its own stock. This move is likely to reduce the number of shares available in the market, potentially driving up the stock price.
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