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Enerplus gets green light to continue share repurchase program

Canada's Enerplus Corp. announced March 21 that it got the go-ahead from the Toronto Stock Exchange to renew its 16.7 million share repurchase program.

The program will run from March 26, 2019, to March 25, 2020, although the date could change upon completion of the bid or termination by Enerplus.

The oil and gas producer said it will limit daily purchases to 270,933 shares, which represent 25% of the average daily trading volume of the common shares on the TSX. Common shares purchased under the bid will be canceled.

For its previous share repurchase program, the company has already bought about 7.3 million common shares at a weighted-average price of C$12.96 per share.