Waste Connections Receives Approval for Normal Course Issuer Bid
Waste Connections, a leading waste management services company, has received approval from the Toronto Stock Exchange (TSX) to renew its normal course issuer bid (NCIB). The company plans to purchase up to 12,855,691 common shares over the next 12 months, representing 5% of its issued and outstanding common shares. The purchase price will be determined by the market, and all shares purchased will be cancelled.
Key Takeaways:
- Waste Connections plans to purchase up to 12,855,691 common shares, representing 5% of its issued and outstanding common shares, over the next 12 months.
- The purchase price will be determined by the market, and all shares purchased will be cancelled.
- The NCIB will be conducted through the facilities of the TSX, the New York Stock Exchange (NYSE), NYSE Texas, and/or alternative Canadian trading systems.
- Waste Connections has been authorized to make purchases during the period of August 12, 2025, to August 11, 2026, or until such earlier time as the NCIB is completed or terminated at the option of the Company.
- Management's decisions regarding share repurchases will be based on market conditions, share price, and other factors, including potential acquisition growth opportunities.
Statistics:
- Up to 12,855,691 common shares may be purchased, representing 5% of the total issued and outstanding common shares (257,113,830).
- The daily repurchase limit is 80,213 common shares, representing 25% of the average daily trading volume on the TSX (320,852) for the period from February 1, 2025, to July 31, 2025.
- The maximum number of shares that can be purchased per day on the NYSE and NYSE Texas will be 25% of the average daily trading volume for the four calendar weeks preceding the date of purchase.
Sources:
- Waste Connections, Inc. press release, "Waste Connections Announces Renewal of Normal Course Issuer Bid"
- Toronto Stock Exchange (TSX) rules regarding normal course issuer bids
- Waste Connections' website