Loblaw Companies Limited (TSX:L) announces a share repurchase program. Under the normal course issuer bid, the company will repurchase up to 15,336,875 common shares, representing 5% of its outstanding share. The repurchased shares will be cancelled or used in connection with the settlement of restricted share units or performance share units.

The company may use its bid to acquire the number of common shares that are issued pursuant to the exercise of options in order to offset the dilutive effect of options that have been exercised. The bid will terminate on May 5, 2025. As of April 22, 2024, the company had 306,737,513 shares outstanding.