TFI International Board Approves Renewal Of Normal Course Issuer Bid
Portfolio Pulse from Benzinga Newsdesk
TFI International's board has approved the renewal of its Normal Course Issuer Bid (NCIB), allowing the company to repurchase up to 7.918 million common shares between November 2, 2024, and November 1, 2025, pending approval from the Toronto Stock Exchange.
October 21, 2024 | 8:13 pm
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TFI International has renewed its NCIB, allowing for the repurchase of up to 7.918 million shares, which could positively impact the stock price by reducing the number of shares outstanding.
The renewal of the NCIB indicates TFI International's confidence in its financial health and future prospects. By repurchasing shares, the company can reduce the number of shares outstanding, potentially increasing earnings per share and supporting the stock price. The approval from the Toronto Stock Exchange is a formality, but it is necessary for the plan to proceed.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100