07:39 AM EDT, 05/02/2024 (MT Newswires) -- Loblaw ( LBLCF ) on Thursday said the Toronto Stock Exchange (TSX) accepted the grocer's plan for a normal course issuer bid.

During the 12-month period beginning on May 6, Loblaw ( LBLCF ) can purchase up to 15.3 million of its outstanding common shares, about 5% of the total. As of April 22, 2024, Loblaw ( LBLCF ) had 306.7 million outstanding common shares.

Based on the average daily trading volume of 356,715 during the last six months, daily purchases will be limited to 89,178 common shares, other than block purchase exceptions and purchases from George Weston Limited (GWL), Loblaw's ( LBLCF ) majority shareholder.