08:08 AM EST, 12/11/2024 (MT Newswires) -- Stantec ( STN ) on Wednesday said the Toronto Stock Exchange has approved its intention to buy back up to 2.3 million shares.

The buyback period runs from Dec. 13 and will terminate on Dec. 12 next year.

Stantec ( STN ) said it did not buy back any shares in 2024, but did purchase 129,036 shares in 2023 at an average share price of $77.25 and a total cost of $10 million.

The company's shares were last seen up US$0.72, to US$85.24, in U.S. premarket trade.