Leon’s Furniture ( (TSE:LNF) ) has shared an announcement.
Leon’s Furniture Limited has announced the approval of a common share repurchase program on the Toronto Stock Exchange, allowing the company to repurchase up to 3,403,405 common shares, which represents 4.99% of its total issued and outstanding shares. The initiative, which includes an automatic share purchase plan with National Bank Financial Inc., is seen as a strategic move to capitalize on the attractive current share price, potentially enhancing shareholder value and reflecting confidence in the company’s financial position.
More about Leon’s Furniture
Leon’s Furniture Limited is the largest retailer of furniture, appliances, and electronics in Canada, operating under various retail banners including Leon’s, The Brick, Brick Outlet, and The Brick Mattress Store. The company is also the country’s largest commercial retailer of appliances to builders, developers, hotels, and property management companies, with 299 retail stores across Canada and six websites.
YTD Price Performance: -8.84%
Average Trading Volume: 17,930
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$1.59B
For an in-depth examination of LNF stock, go to TipRanks’ Stock Analysis page.