CI Financial (TSE:CIX) has released an update.
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CI Financial has initiated a substantial issuer bid to repurchase up to 5 million of its own shares at $17.50 each, targeting about 3.4% of its total outstanding shares. This strategic move is designed to enhance shareholder value by returning capital and increasing the proportionate share ownership for non-tendering shareholders. The offer is set to expire on October 1, 2024, with all shareholders as of September 30 still eligible for the previously declared dividend.
For further insights into TSE:CIX stock, check out TipRanks’ Stock Analysis page.
