By Robb M. Stewart
Canadian Pacific Kansas City has the go ahead from the Toronto Stock Exchange to buy back up to about 4% of its issued and outstanding shares.
The freight rail operator plans a normal course issuer bid to buy for cancellation up to 37.3 million of its shares over a one-year period through March 2, 2026.
President and Chief Executive Keith Creel said the company's ability to generate strong free cash flow and a pipeline of growth opportunities gives it the confidence to reinstitute a share buyback program.
Shares may be bought through the Toronto or New York stock Exchanges, or an alternative trading system. CPKC said it expects to enter into an automatic purchase plan agreement with its broker to allow for buybacks during internal quarterly blackout periods.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
February 27, 2025 07:32 ET (12:32 GMT)
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