Canadian frozen seafood company triples repurchase target

  • High Liner Foods increases share repurchase program to 700,000 shares
  • Original target of 200,000 shares already reached
  • New figure represents about 2.1% of outstanding shares
  • Shares have fallen over 20% year-to-date
  • Shares worth an additional C$5.5 million at Thursday’s closing price
  • Current NCIB expires on June 6 of next year

High Liner Foods has announced an increase in its share repurchase program, more than tripling its original target. The company now intends to purchase up to 700,000 of its common shares for cancellation, representing about 2.1% of the outstanding shares. This comes after High Liner successfully reached its initial target of 200,000 shares. The company’s shares have been under pressure, falling over 20% year-to-date. At Thursday’s closing price, the additional shares would be worth C$5.5 million. The current normal course issuer bid (NCIB) expires on June 6 of next year.

Factuality Level: 8
Factuality Justification: The article provides factual information about High Liner Foods increasing the number of shares it intends to buy back and the current status of its normal course issuer bid. The information is clear and does not contain any obvious bias or misleading information. However, the article lacks additional context or analysis, which could have provided a more comprehensive understanding of the situation.
Noise Level: 7
Noise Justification: The article provides some relevant information about High Liner Foods increasing the number of shares it intends to buy back. However, it lacks in-depth analysis, scientific rigor, and evidence to support its claims. It also does not provide any actionable insights or solutions for the reader. The article stays on topic and does not dive into unrelated territories, but it is relatively short and lacks sufficient detail.
Financial Relevance: Yes
Financial Markets Impacted: The news article pertains to High Liner Foods, a Canadian frozen seafood company. The increase in the number of shares it intends to buy back may impact the company’s stock price and potentially attract investor attention.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The news article does not describe any extreme event. It focuses on High Liner Foods’ decision to increase the number of shares it intends to buy back.
Public Companies: High Liner Foods (N/A)
Key People:

Reported publicly: www.marketwatch.com