Morguard Corp. (MRC.TO), a Canadian real estate company, announced on Wednesday that it plans to make a normal course issuer bid to repurchase up to 535,195 shares, or around 5% of its common stock.
The shares will be repurchased between September 22, 2025, and September 21, 2026. The price that Morguard will pay for any such shares will be the market price at the time of acquisition. The company may be repurchasing 1000 shares per day.
Under its previous normal course issuer bid, the company was approved to repurchase up to 540,672 shares. Morguard had repurchased 109,810 shares for cancellation during the last twelve months at an average cost per share of $119.59.
As of September 11, 2025, there were 10.703 million shares outstanding.
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