BRP Gets TSX Green Light to Buy Back Up to 10% of Public Float

Dow Jones2024-12-06

By Adriano Marchese

BRP said it plans to renew its share repurchase program to buy back up to 10% of its issued and outstanding shares over the course of one year.

The Canadian leisurecraft manufacturer said Friday that the Toronto Stock Exchange approved its plans to buy back up to 3.3 million shares for cancellation.

Shares have been under pressure in 2024, falling about 28% since the beginning of the year to 68.05 Canadian dollars ($48.52), as the company faced slumping demand for its land and watercrafts in recent quarters.

At Thursday's closing price, the value of the shares intended for buyback would be worth about C$226.7 million.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

December 06, 2024 08:16 ET (13:16 GMT)

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