Nip Impressions logo
Fri, Oct 15, 2021 16:00
Visitor
Home
Click here for Pulp & Paper Radio International
Subscription Central
Must reads for pulp and paper industry professionals
Search
My Profile
Login
Logout
Management Side
West Fraser Timber to buy back up to $1 billion of its shares

VANCOUVER (From news reports) -- West Fraser Timber Co. Ltd. says it plans to buy back up to $1 billion worth of its shares.

The forestry company says it is conducting a "modified Dutch auction" with a tender price range of $85 to $98 per share.

The purchase price will be the lowest price within that range that will allow it to buy back the maximum number of shares tendered by shareholders.

West Fraser shares closed at $86.83 on the Toronto Stock Exchange on Tuesday.

The company raised its dividend earlier this year after it reported its first-quarter profit rose, boosted by higher lumber prices.

By buying back its shares, a company spreads profits over fewer shares. That increases its earnings per share, a key ratio used to determine a company's financial strength.

Readers, please tell your suppliers that you read Paperitalo Publications


Printer-friendly format

 





Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: