Home Capital Group plans up to $50M in share buybacks as COVID turmoil subsides VIDEO SIGN OUT
Home Capital Group Inc. announced on Wednesday itâs planning to resume and renew a share buyback program that was put on hold in the early days of the pandemic.
Under the plan outlined by the alternative mortgage lender, up to $50 million in shares will be repurchased if the normal course issuer bid (NCIB) thatâs scheduled to expire on Jan. 21 is approved for renewal by the Toronto Stock Exchange.
âHome Capital suspended such purchases in March of this year due to the onset of the COVID-19 pandemic,â Home Capital said in a release. âWith the passage of time and continued stability in its financial performance, Home Capital believes that it is appropriate to resume repurchases under its NCIB.â