06:35 AM EDT, 08/29/2024 (MT Newswires) -- Canadian Imperial Bank of Commerce ( CM ) said Thursday that it plans to buy back up to 20 million common shares.

The buyback, representing about 2.1% of its outstanding shares as of July 31, 2024, would start once the Toronto Stock Exchange accepts the notice and would last up to a year.

The company said it would purchase its shares through the Toronto Stock Exchange, alternative Canadian trading platforms, or the NYSE at prices based on market rates.

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