CN Updates On-Going Share Repurchase Program
OREANDA-NEWS. CN (TSX: CNR) (NYSE: CNI) provided updated information today with respect to its on-going share repurchase program after giving effect to the two-for-one stock split completed in December 2013.
On a post-split basis, CN may purchase up to 30 million common shares by way of its normal course issuer bid during the period from Oct. 29, 2013, to Oct. 23, 2014.
CN announced on Oct. 25, 2013, that it intends to purchase common shares pursuant to private agreements in accordance with the terms of issuer bid exemption orders issued by the Ontario Securities Commission, which purchases will form part of CN's normal course issuer bid. The maximum number of common shares which may be purchased by CN pursuant to such private purchases shall not exceed 10 million common shares on a post-split basis.
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