Enerflex Announces Share Buyback Program to Boost Shareholder Value

Story Highlights
  • Enerflex plans to repurchase up to 5% of its public float through a Normal Course Issuer Bid.
  • The share buyback aims to enhance shareholder returns and reflects Enerflex’s confidence in its market value.
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Enerflex Announces Share Buyback Program to Boost Shareholder Value

An update from Enerflex ( (TSE:EFX) ) is now available.

Enerflex Ltd. has announced its intention to implement a Normal Course Issuer Bid (NCIB) to repurchase up to 5% of its public float over the next twelve months, subject to approval by the Toronto Stock Exchange. This move is part of Enerflex’s strategy to enhance shareholder returns, following a recent 50% increase in its quarterly dividend, and reflects the company’s belief that its current market share price does not fully represent its underlying value.

More about Enerflex

Enerflex is a premier integrated global provider of energy infrastructure and energy transition solutions, offering natural gas, low-carbon, and treated water solutions. The company provides both individual, modularized products and services as well as integrated custom solutions, with a workforce of over 4,600 engineers, manufacturers, technicians, and innovators committed to transforming energy for a sustainable future.

YTD Price Performance: -25.67%

Average Trading Volume: 632,702

Technical Sentiment Consensus Rating: Sell

Current Market Cap: C$1.32B

Find detailed analytics on EFX stock on TipRanks’ Stock Analysis page.

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