The Toronto Stock Exchange accepted Morguard Corp.'s notice of intention to commence a normal course issuer bid to purchase up to 564,117 common shares, or roughly 5% of its issued and outstanding common shares.
The company may purchase the shares during the 12-month period starting Sept. 22.
Under its previous normal course issuer bid, Morguard purchased for cancellation 81,229 common shares during the last 12 months at an average per-share cost of C$185.10.
As of Sept. 11, the company has 11,282,342 common shares outstanding.
