- Laurentian Bank of Canada (LB) has received the approval of the TSX and OSFI to launch a normal course issuer bid
- The bank will repurchase for cancellation up to 875,000 of its common shares
- The NCIB will commence on December 15, 2021
- Laurentian Bank Financial Group has $44.6 billion in balance sheet assets and $30.9 billion in assets under administration
- Laurentian Bank of Canada (LB) opened trading at C$38.04 per share
Laurentian Bank of Canada (LB) has received the approval of the TSX and OSFI to launch a normal course issuer bid.
The bank will repurchase for cancellation up to 875,000 of its common shares, representing approximately 2 per cent of the total number of shares outstanding as of December 1, 2021.
The NCIB will commence on December 15, 2021 and will terminate upon the purchase of 875,000 shares or upon the issuer providing an earlier notice of termination. If not previously terminated, the NCIB will terminate on December 14, 2022. Purchases will be made on the open market.
The bank is allowed to repurchase up to 41,208 shares per day. The number of shares which may be purchased pursuant to the NCIB will be determined by the bank. All shares purchased will be cancelled.
Laurentian Bank Financial Group is a diversified financial services provider whose mission is to help its customers improve their financial health.
Laurentian Bank Financial Group has $44.6 billion in balance sheet assets and $30.9 billion in assets under administration.
Laurentian Bank of Canada (LB) opened trading at C$38.04 per share.