By Adriano Marchese


Loblaw Cos. Ltd. has entered into an automatic share-purchase plan under which its broker would repurchase shares in the company for cancellation over the course of a one-year period, the Canadian retailer said Friday.

The repurchase plan is part of the company's previously announced normal course issuer bid, or NCIB, which was approved by the Toronto Stock Exchange, Loblaw said.

Under the NCIB, the company can repurchase up to 16.6 million common shares, representing 5% of its total share capital. The NCIB's one-year period runs until May 4 of next year.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

06-17-22 0729ET