By Adriano Marchese
FirstService intends to launch a share repurchase program to buy back up to 3.9% of its issued and outstanding common shares over the course of a one-year period.
The property services said Tuesday that the Toronto Stock Exchange approved its plan to buy back up to 1.6 million of its shares for cancellation by way of a normal course issuer bid.
Shares have risen modestly over the course of the year, up about 5% since January to close on Monday at 273.52 Canadian dollars ($198.15). The stock is up 15% over the past 52 weeks.
At Monday's closing price, the value of the shares intended for buyback would be worth about C$437.6 million.
FirstService can begin buying back shares starting on Aug. 25.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
August 19, 2025 07:50 ET (11:50 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.