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Maple Leaf to buy back over 7 million shares

Maple Leaf Foods Inc. said May 22 that it will repurchase up to 7,844,000 of its common shares, which represents about 10% of its public stock as of May 11.

The repurchase program was approved by the Toronto Stock Exchange, according to the release. The packaged meats company will buy back the shares from May 24, 2018, to May 23, 2019.

Maple Leaf can repurchase up to 40,600 common shares a day.

The buyback follows the company's previous program, under which it repurchased 3,312,600 shares at a weighted average price of C$32.80.