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George Weston to repurchase more than 6 million shares

George Weston Ltd. will buy back up to 6,398,134 of its common shares, representing 5% of its outstanding common shares as of May 10.

The Canadian grocery operator will repurchase the shares between May 23, 2018, and May 22, 2019.

Daily purchases will be limited to 32,162 common shares, other than block purchase exceptions.

The latest repurchase program will follow the expiration of George Weston's previous normal course issuer bid on May 19, in which the retailer repurchased 358,803 common shares at a weighted average price of C$108.26.