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Superior Plus ( (TSE:SPB) ) just unveiled an announcement.
Superior Plus announced that it repurchased 10.4 million common shares, representing 4.2% of its public float, between November 6, 2024, and the end of the year, at an average cost of C$6.43 per share. The repurchase is aligned with maintaining a leverage ratio near 4.0x, and future repurchase pace is expected to slow, aligning with savings from a revised dividend policy. The company plans to allocate approximately C$35 million per quarter to share repurchases until it reaches 10% of the public float under its NCIB, indicating a strategic effort to manage its capital structure and reward shareholders while maintaining financial stability.
More about Superior Plus
Superior Plus is a leading North American distributor specializing in propane, compressed natural gas, renewable energy, and related products and services, catering to approximately 770,000 customer locations in the U.S. and Canada. The company focuses on providing clean burning fuels to residential, commercial, utility, agricultural, and industrial customers not connected to a pipeline, playing a significant role in the energy transition by helping customers reduce operating costs and improve environmental performance.
YTD Price Performance: -2.35%
Average Trading Volume: 1,501,496
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: C$1.52B
For an in-depth examination of SPB stock, go to TipRanks’ Stock Analysis page.
