Gildan Activewear (TSE:GIL) has released an update.
Gildan Activewear Inc. has announced an expansion of its normal course issuer bid (NCIB), doubling the maximum repurchase of its common shares from 5% to 10% of the public float as of July 31, 2023. This strategic move follows the company’s strong performance and is backed by Gildan’s solid balance sheet and expected robust free cash flow. The company believes that buying back its shares is a prudent use of financial resources and aligns with its ongoing commitment to delivering shareholder value.
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