Shares of Canadian Solar Inc. soared more than 5% today after the company's infrastructure fund announced the continuation of its share repurchase program.
Canadian Solar Infrastructure Fund, a subsidiary that owns and operates solar power plants across the globe, disclosed that it has repurchased 4,371 investment units. The move is part of the fund's strategic buyback initiative aimed at enhancing unitholder value.
Investors cheered the news, viewing the share buybacks as a vote of confidence in Canadian Solar's prospects. The repurchases also reduce the number of outstanding shares, potentially boosting the company's earnings per share and supporting the stock price.
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