07:11 AM EDT, 04/11/2024 (MT Newswires) -- BMTC Group (GBT.TO) which manages and operates a retail network of furniture, household appliances, and electronic products in Canada, overnight Wednesday said it received regulatory approval to renew its share buyback program that will now run up to April 14, 2025.

Under the renewed normal course issuer bid, the company will acquire more than 1.6 million common shares representing about 5% of its outstanding shares as at April 1.

BMTC acquired for cancellation a total of 390,000 common shares over the past year at a weighted average price of $14.04 per share under its previous normal course issuer bid that expires April 14.

The shares closed up 0.4% in Canada yesterday at $14.35.