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Article: EnCana expands share buyback.(Corporate News)(Brief Article)
- Article from:
- The Oil Daily
- Article date:
- February 8, 2005
CopyrightCOPYRIGHT 2005 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Canadian independent EnCana said the Toronto Stock Exchange has approved an increase in its share buyback program from 5% of the outstanding common shares to 10%.
The company has already bought back 4.6% of its common stock, or 21.2 million shares, leaving it with 446.3 million shares outstanding as of Jan. 31. It is now authorized to repurchase and cancel up to 24.9 million additional shares. The share repurchases will be funded with proceeds from the planned sale of non-core assets in Western Canada, Ecuador, ...