KGC - Kinross Gold renews NCIB to buy back up to 65M shares
- Kinross Gold ( NYSE: KGC ) on Thursday announced the renewal of its normal course issuer bid program .
- KGC is authorized to buy back up to 65M shares, or 5% of its issued and outstanding shares, for cancellation from Aug. 3 to Aug. 2, 2023.
- The firm has 1.3B shares outstanding as of Jul. 27.
- Daily repurchases on the Toronto Stock Exchange will be limited to ~1.2M shares, representing 25% of the average daily trading volume for the six months ended Jun. 30.
- Maximum number of shares that can be purchased per day on NYSE will be 25% of the average daily trading volume for four calendar weeks preceding the date of purchase.
- Under KGC's prior NCIB, it was authorized to buy back up to ~63.1M shares. KGC repurchased 17.6M shares, which were cancelled.
- The new NCIB may be suspended by KGC at any time.
For further details see:
Kinross Gold renews NCIB to buy back up to 65M shares