Corus Continues Stock Buyback
February 13, 2008 at 7:12 AM (PT)
CORUS ENTERTAIMNENT says that the TORONTO STOCK EXCHANGE has accepted the notice filed by CORUS of its intention to renew its Normal Course Issuer Bid for its Class B Non-Voting Participating Shares.
The move means that CORUS can in the 12 months starting FEBRUARY 15 buy back and cancel up to 6 million of the shares (about 7.9% of the total public float of that class). CORUS can buy a maximum of 38,867 shares per day. In the past year, CORUS repurchased 1.5 million of the shares at an average price of C$48.47.