08:01 AM EDT, 06/28/2024 (MT Newswires) -- MTY Food Group ( MTYFF ) , a franchisor and operator of restaurants, on Friday said the Toronto Stock Exchange approved the renewal of the company's normal course issuer bid.

Under the terms of the bid, MTY can buy back up to 1.2 million common shares, or 5% of the outstanding stock, from July 3 until July 2 of next year.

Under its previous NCIB, which expires on July 2, MTY Foods bought back 498,000 common shares at a weighted average price of $48.41 each.