Canadian Bank of Commerce (TSE:CM) has released an update.
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The Canadian Bank of Commerce (CIBC) has received approval from the Toronto Stock Exchange to proceed with a normal course issuer bid, aiming to repurchase and cancel up to 20 million common shares. This move aligns with CIBC’s strategy to enhance shareholder value while maintaining a strong balance sheet. The share repurchase program will commence on September 10, 2024, and can occur through various trading platforms, with the possibility of using an automatic share purchase plan during trading blackouts.
For further insights into TSE:CM stock, check out TipRanks’ Stock Analysis page.
