- Stella-Jones (SJ) announced that the Toronto Stock Exchange has approved the company’s NCIB
- Stella-Jones may purchase for cancellation up to 5,000,000 of its common shares between November 14, 2022, and November 13, 2023
- Stella-Jones Inc. is North America’s leading producer of pressure-treated wood products
- Stella-Jones Inc. opened trading at $42.55 per share
Stella-Jones (SJ) announced that the Toronto Stock Exchange has approved the company’s NCIB.
Stella-Jones is empowered to purchase for cancellation up to 5,000,000 of its common shares between November 14, 2022, and November 13, 2023.
The 5,000,000 shares represent approximately 9.6 per cent of the public float of its common shares.
As of October 31, 2022, Stella-Jones had 59,525,467 common shares issued and outstanding and 51,819,214 common shares comprising the public float.
During its current bid, the company purchased 5,000,000 common shares at a weighted average price of approximately $38.26 per common share for a total of $191,276,706.
The company may purchase a maximum of 27,417 common shares per day.
The Board of Directors of Stella-Jones believes that the repurchase of common shares represents an attractive and responsible investment of capital and is in the best interests of Stella-Jones.
Stella-Jones Inc. is North America’s leading producer of pressure-treated wood products.
Stella-Jones Inc. opened trading at $42.55 per share.