Russel Metals Gets TSX Green Light to Buy Back up to 10% of Public Float
Dow Jones
Aug 14
Russel Metals intends to launch a share-repurchase program to buy back up to 10% of its shares over the course of a year.
The metals distribution company said Friday that the Toronto Stock Exchange has approved its normal course issuer bid to buy back up to 5.4 million of its shares for cancellation.
Shares have risen significantly in 2026, and are up about 84% since the start of the year to close Thursday at 80.50 Canadian dollars ($57.79).
At Thursday's closing price, the value of the block of shares intended for repurchase would be worth about C$438.5 million.
Russel can begin buying back shares starting Aug. 18.
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