Nutrien Announces TSX Approval for Its Renewed Share Repurchase Program
2024年2月28日 - 6:45AM
ビジネスワイヤ(英語)
Nutrien Ltd. (TSX and NYSE: NTR) announced today that the
Toronto Stock Exchange (TSX) has accepted Nutrien's notice to
commence a normal course issuer bid (NCIB) to purchase outstanding
common shares representing up to five percent of its issued and
outstanding common shares.
Under the NCIB, purchases of common shares may be made through
the facilities of the TSX, the New York Stock Exchange and/or
alternative trading systems in Canada and the U.S., or as otherwise
permitted under applicable securities laws. The actual number of
common shares that may be purchased under the NCIB and the timing
of any such purchases will be determined by Nutrien. Nutrien
believes that purchasing its own common shares represents an
attractive investment opportunity, is in the best interests of the
company and is consistent with Nutrien's objective of returning
capital to shareholders over time. As of February 16, 2024, Nutrien
had 494,563,180 common shares outstanding and, therefore, is
permitted to repurchase up to 24,728,159 of its outstanding common
shares pursuant to the NCIB. Common shares purchased under the NCIB
will be cancelled.
The NCIB will be effected in accordance with the TSX normal
course issuer bid rules and/or Rule 10b-18 under the U.S.
Securities Exchange Act of 1934, as amended, which contain
restrictions on the number of common shares that may be purchased
on a single day, subject to certain exceptions for block purchases,
based on the average daily trading volumes of Nutrien's common
shares on the applicable exchange. Subject to exceptions for block
purchases, Nutrien will limit daily purchases of common shares on
the TSX in connection with the NCIB to no more than twenty-five
percent (290,908 common shares) of the average daily trading volume
of the common shares on the TSX (1,163,632 common shares) during
any trading day. Purchases under the NCIB will be made through open
market purchases at market price, as well as by other means as may
be permitted under applicable securities laws, including private
agreements. Any purchases made by private agreement under an issuer
bid exemption order issued by a securities regulatory authority
will be at a discount to the prevailing market price as provided in
such exemption order. Purchases of common shares may commence on
March 1, 2024 and will expire on the earlier of February 28, 2025,
the date on which the company has acquired the maximum number of
common shares allowable under the NCIB or otherwise decides not to
make any further repurchases under the NCIB. Nutrien has entered
into an automatic purchase plan with a broker which will enable
Nutrien to provide standard instructions and purchase common shares
on the open market during self-imposed blackout periods. Outside of
these black-out periods, common shares may be purchased in
accordance with management's discretion.
Nutrien's prior NCIB for the purchase of up to 24,962,194 common
shares will expire on February 29, 2024. As of February 16, 2024,
Nutrien repurchased an aggregate of 5,375,397 common shares at a
weighted-average price of US$69.76 per share, for an aggregate of
US$374,998,896 under the prior NCIB. Purchases were made on the
open market.
About Nutrien
Nutrien is a leading provider of crop inputs and services,
helping to safely and sustainably feed a growing world. We operate
a world-class network of production, distribution and ag retail
facilities that positions us to efficiently serve the needs of
growers. We focus on creating long-term value by prioritizing
investments that strengthen the advantages of our integrated
business and by maintaining access to the resources and the
relationships with stakeholders needed to achieve our goals.
Forward-Looking Statements
Certain statements and other information included in this press
release constitute "forward-looking information" or
"forward-looking statements" (collectively, "forward-looking
statements") under applicable securities laws (such statements are
usually accompanied by words such as "anticipate", "expect",
"believe", "may", "will", "should", "project", "estimate", "intend"
or other similar words). All statements in this press release,
other than those relating to historical information or current
conditions, are forward-looking statements, including, but not
limited to the timing, methods and quantity of any purchases by
Nutrien of its common shares under the NCIB.
Forward-looking statements in this press release are based on
certain key expectations and assumptions made by Nutrien, including
expectations and assumptions concerning: Nutrien's views with
respect to its financial condition and prospects, the stability of
general economic and market conditions, currency exchange rates and
interest rates, the availability of cash for repurchases of common
shares under the NCIB, the existence of alternative uses for
Nutrien's cash resources and compliance with applicable laws and
regulations pertaining to the NCIB. Although Nutrien believes that
the expectations and assumptions on which such forward looking
statements are based are reasonable, undue reliance should not be
placed on the forward-looking statements because Nutrien can give
no assurance that they will prove to be correct.
Forward-looking statements are subject to various risks and
uncertainties which could cause actual results and experience to
differ materially from the anticipated results or expectations
expressed in this press release. The key risks and uncertainties
include, but are not limited to: Nutrien's future capital
requirements; general economic and market conditions; the overall
global economy and the impacts, direct and indirect, of the war
between Ukraine and Russia and the conflict in the Middle East on,
among other things, global supply and demand, energy and commodity
prices, the impact of changes to interest rates, disruptions to
supply chains and developments in the global economy generally;
demand for Nutrien's products; and unforeseen legal or regulatory
developments and other risk factors detailed from time to time in
Nutrien's reports filed with the Canadian securities regulatory
authorities and the United States Securities and Exchange
Commission.
The forward-looking statements in this document are made as of
the date hereof and Nutrien disclaims any intention or obligation
to update or revise any forward-looking statements in this press
release as a result of new information or future events, except as
may be required under applicable laws.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240226608745/en/
FOR FURTHER INFORMATION: Investor Relations Jeff
Holzman Vice President, Investor Relations (306) 933-8545 Media
Relations Megan Fielding Vice President, Brand & Culture
Communications (403) 797-3015 Contact us at: www.nutrien.com
Nutrien (NYSE:NTR)
過去 株価チャート
から 4 2024 まで 5 2024
Nutrien (NYSE:NTR)
過去 株価チャート
から 5 2023 まで 5 2024