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Intact Financial Corporation ( (TSE:IFC) ) just unveiled an update.
Intact Financial Corporation has announced the approval of a normal course issuer bid (NCIB) that allows the company to repurchase up to 5,350,283 of its common shares, equating to approximately 3% of its total outstanding shares. This move, approved by the Toronto Stock Exchange, is part of Intact Financial’s strategy to effectively manage excess capital and provide value to shareholders. The share repurchase will be conducted through open market transactions and other approved methods, with purchases starting on or about February 17, 2025, and potentially running until February 16, 2026. This initiative reflects the company’s ongoing commitment to optimizing capital distribution and enhancing shareholder returns.
More about Intact Financial Corporation
Intact Financial Corporation operates in the financial services industry, focusing primarily on property and casualty insurance products and services in Canada and internationally. The company offers a wide range of insurance solutions, including home, auto, and business insurance, and is a prominent player in the Canadian market.
YTD Price Performance: 9.60%
Average Trading Volume: 249,978
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$51.4B
For a thorough assessment of IFC stock, go to TipRanks’ Stock Analysis page.
