Tim Hortons to commence share buybacks of up to $200M worth of common shares
By APMonday, March 1, 2010
Tim Hortons to commence share buybacks
OAKVILLE, Ontario — Tim Hortons Inc. said Monday that it got approval from the Toronto Stock Exchange to start its share buyback program for up to $200 million worth of common shares.
The buybacks are capped at 8.8 million shares, or about 5 percent of the total outstanding shares as of Feb. 19. Tim Hortons said the bid will start Wednesday and end March 2, 2011. The company did not commit to buying back an exact number of shares.
Tim Hortons is based in Oakville, Ontario. The company operates restaurants in Canada and the U.S.
Shares rose 28 cents to close at $30.61.
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