West Fraser Timber Co. Ltd. announced on February 27, 2025, that the Toronto Stock Exchange (TSX) has accepted the renewal of its normal course issuer bid (NCIB). Under this renewed bid, West Fraser is authorized to purchase up to 3,868,177 Common shares, representing approximately 5% of the 77,363,551 shares issued and outstanding as of February 18, 2025.
The NCIB is scheduled to commence on March 3, 2025, and will remain active until March 2, 2026, or until the maximum number of shares authorized for repurchase has been acquired. The company's stated purpose for the NCIB is to return capital to shareholders, particularly when West Fraser believes its shares are undervalued or present an attractive investment opportunity.
Purchases under the NCIB may be executed through the facilities of the TSX, the New York Stock Exchange, and alternative trading systems in Canada and/or the United States. West Fraser's prior NCIB, which expired on February 28, 2025, resulted in the repurchase of 2,061,804 shares at a volume weighted-average price of US$81.14 per share.
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