08:45 AM EST, 01/02/2025 (MT Newswires) -- Great-West Lifeco ( GWLIF ) on Thursday said it received approval from the Toronto Stock Exchange (TSX) for the renewal of its normal course issuer bid (NCIB).

Great-West Lifeco ( GWLIF ) said it may buy to cancel up to 20 million common shares under the renewed NCIB, representing about 2.15% of its 932 million issued and outstanding common shares on Dec. 23.

The NCIB will begin on Jan. 6, and continue until Jan. 5, 2026 or earlier if GWO completes its purchases.

Daily purchases will be limited to 719,616 common shares, subject to the TSX rules permitting block purchases, the company added.

Great-West Lifeco ( GWLIF ) also entered into an automatic purchase plan (ASPP) with a designated broker, intended to facilitate repurchases of common shares under the NCIB, including at times when the company would ordinarily not be permitted to make purchases due to regulatory restrictions or self-imposed blackout periods.

Shares of the company closed up $0.17 or 0.4%, to $47.67 on Tuesday on the TSX.