IGM also buying back shares...this is another plus.
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On Wednesday, March 19th, 2008, IGM Financial Inc. announced receipt of regulatory approval respecting its intention to continue its Normal Course Issuer Bid through the facilities of the Toronto Stock Exchange from March 22, 2008 to March 21, 2009.
The Corporation intends to purchase for cancellation, by means of open market transactions or such other means as may be permitted by the Toronto Stock Exchange, up to but not more than 13,199,884 of its issued common shares, representing 5 percent of the approximately 263,997,690 common shares outstanding on March 14, 2008. Daily repurchases will be limited to 73,286 common shares, other than block purchase exceptions. The average daily trading volume for the six months preceding the date hereof is 293,145 common shares. Within the past 12 months, the Corporation has purchased 1,810,600 common shares at an average price of $48.7676 per share pursuant to its then outstanding Normal Course Issuer Bid.