Canadian Tire Corporation, Limited (TSX:CTC.A) announces a share repurchase program. Under the normal course issuer bid, the company will repurchase up to 4,900,000 Class A non-voting shares, representing 9.39% of its issued and outstanding shares. The repurchased shares will be restored to the status of authorized but unissued shares.

The purpose of the bid is to offset the dilutive effect of the issuance of Class A non-voting shares pursuant to its dividend reinvestment and stock option plans, consistent with the company's policy. The bid is subject to Toronto Stock Exchange's approval. The bid will expire on March 1, 2025.

As of February 14, 2024, the company had 52,197,823 Class A non-voting shares issued and outstanding.