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Loblaw enters automatic share purchase plan

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Loblaw enters automatic share purchase plan

Canadian retailer Loblaw Cos. Ltd. said Dec. 28 that it entered into an automatic share purchase plan, or ASPP, with an unnamed broker to facilitate its share repurchase program.

Under the ASPP, Loblaw may buy common shares through the broker at times when the company would refrain from market activity due to insider trading rules and internal trading blackout periods.

Loblaw's share repurchase program was previously approved by the Toronto Stock Exchange for up to 18,952,573 of the retailer's common shares. That program started May 1 and runs until April 30, 2019.