04:50 PM EST, 11/14/2025 (MT Newswires) -- Superior Plus ( SUUIF ) after trade Friday said the Toronto Stock Exchange has approved its plan to launch a normal course issuer bid allowing the company to repurchase up to nearly 21.6-million common shares, representing 10% of its public float as of Nov. 5.

Shares in the company, which announced third quarter earnings and a dividend this week, were down 21% in Canada trade today.

On SPB's new program, it begins Nov. 19, 2025, and will run until Nov. 18, 2026, or earlier if the limit is reached or the company ends the bid. Superior had 223-million common shares outstanding on Nov. 5.

Daily purchases will be capped at 164,568 shares, equal to 25% of the stock's average daily trading volume over the prior six months. Shares bought under the program will be cancelled. Superior's previous NCIB, which permitted the repurchase of up to 24.1-million shares, expired Aug. 6 after the company acquired the full amount.

Superior said the buyback aligns with its capital allocation strategy, noting that its shares may at times trade below intrinsic value.