West Fraser Timber Co ( (TSE:WFG) ) has shared an update.
West Fraser Timber Co. Ltd. announced the renewal of its normal course issuer bid (NCIB), allowing the company to repurchase up to 3,868,177 common shares, representing about 5% of its outstanding shares, starting March 3, 2025. This initiative is aimed at returning capital to shareholders and is considered a strategic use of funds, reflecting the company’s confidence in its valuation and market position. The NCIB will operate through the Toronto Stock Exchange and the New York Stock Exchange, with purchases subject to regulatory restrictions and market conditions.
More about West Fraser Timber Co
West Fraser is a diversified wood products company with over 50 facilities across Canada, the United States, the United Kingdom, and Europe. The company is committed to sustainable forest practices and produces a range of products including lumber, engineered wood products, pulp, newsprint, and wood chips, which are used in various applications such as home construction, industrial uses, and packaging materials.
YTD Price Performance: -9.41%
Average Trading Volume: 164,657
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $6.26B
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