Canada Goose Holdings Inc. announced that the Toronto Stock Exchange (TSX) has approved a normal course issuer bid (NCIB) providing for the purchase for cancellation of up to 5.94 million subordinate voting shares of Canada Goose.
The repurchases will take place over the twelve-month period, commencing on August 20, 2021, and ending no later than August 19, 2022. This represents approximately 10 percent of the 59.4 million subordinate voting shares comprising the public float determined in accordance with TSX requirements as of August 6, 2021.
Canada Goose currently believes that the purchase of the company’s subordinate voting shares under the NCIB is an appropriate and desirable use of available excess cash on hand, as part of its broader capital allocation strategy.
Canada Goose has not repurchased any of its outstanding subordinate voting shares under a normal course issuer bid in the past 12 months.
Photo courtesy Canada Goose