TSX:TOUOil and Gas
Major Share Buyback Could Be a Game Changer for Tourmaline Oil (TSX:TOU)
Tourmaline Oil Corp. recently announced a share repurchase program, authorizing the buyback of up to 19,342,343 shares, equivalent to 5% of its issued and outstanding share capital, with all repurchased shares set to be cancelled by August 2026.
This move to reduce the share count is often interpreted as a signal of management's confidence in the company's long-term prospects and commitment to enhancing shareholder value.
We'll now examine how this substantial share buyback authorization...