Metro Inc. to buy back millions of its shares

By Staff | September 6, 2013 | Last updated on September 6, 2013
1 min read

Grocer Metro Inc. plans to buy back up to 7,000,000 of its shares over the next year.

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The number makes up almost 10% of its total common shares.

As of August 30, the company had issued nearly 92,000,000 shares, 72,861,617 of which were owned publicly, it says.

The company trades on the Toronto Stock Exchange. Over the past year it bought back 6,000,000 common shares at an average price of $65.62 per share, totalling $393.7 million.

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The chain of grocery stores has annual sales of $11 billion employs more than 65,000 people.

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The staff of have been covering news for financial advisors since 1998.