Normal Course Issuer Bid On June 12, 2024, the Corporation has been authorized to repurchase, for cancellation on the open market, or subject to the approval of any securities authority by private agreements, between June 17, 2024 and June 16, 2025, or at an earlier date if the Corporation concludes or cancels the offer, up to 3,662,967 of its Class A Subordinate Voting Shares and up to 668,241 of its Class B Shares. The repurchases are made in the normal course of business at market prices through the Toronto Stock Exchange.
During the third quarter ended July 28, 2024, the Corporation repurchased and cancelled 1,159,758 Class A Subordinate Voting Shares at a weighted average price of $15.22 and 5,000 Class B Shares at a weighted average price of $15.37, for a total cash consideration of $17.7 million.
On July 26, 2024, the Corporation authorized its broker to repurchase shares between July 29, 2024, and September 13, 2024, inclusively, in accordance with parameters set by the Corporation. Subsequent to the end of the third quarter of fiscal 2024, the Corporation repurchased 773,797 Class A Subordinated Voting Shares and 2,000 Class B Shares for a total cash consideration of $12.5 million.