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CCL Industries Inc. announced its intention to file a notice to renew its normal course issuer bid (NCIB) for purchasing up to 14,500,000 Class B non-voting shares, about 9.9% of the public float. Subject to Toronto Stock Exchange approval, the purchases will occur within 12 months. The current NCIB, set to expire on May 24, 2022, has seen the company buy 1,733,419 shares at an average price of $57.69. The company believes this repurchase is a favorable use of funds, although future share purchases will depend on various market conditions.
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