Key facts
- FirstService Corporation amended its normal course issuer bid.
- The amendment allows for the repurchase of a greater number of shares.
- FirstService entered into an automatic share purchase plan (ASPP).
- The ASPP allows for the purchase of shares during blackout periods.
FirstService Corporation has made a strategic move to enhance its shareholder return program by amending its normal course issuer bid. This amendment permits the company to repurchase a larger quantity of its outstanding shares, signaling confidence in its valuation and a commitment to returning capital to shareholders. Concurrently, the company has established an automatic share purchase plan (ASPP) with its designated broker. This plan is designed to facilitate share repurchases even during periods when the company might otherwise be restricted from trading due to insider knowledge or blackout periods, ensuring a consistent approach to its buyback strategy.