Restaurant Brands International Renews Buyback Plan for Up to $500 Million
By Adriano Marchese
Restaurant Brands International intends to renew its share repurchase program to buy back up to 10% of its common shares over the course of a one-year period.
The Toronto-based fast-food restaurant company said Thursday that the Toronto Stock Exchange approved the plan to renew its normal course issuer bid to buy back up to $500 million of its shares for cancellation.
Shares have been under pressure in 2024, falling about 9.7% in Toronto and closing on Wednesday at 93.53 Canadian dollars ($68.88). The stock is up 3.2% over the last 52-weeks.
Restaurant Brands can begin buying back the stocks on Sept. 16.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
September 12, 2024 09:13 ET (13:13 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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