Aecon Group (ARE.TO) received regulatory approval from the Toronto Stock Exchange to renew its normal course issuer bid, the construction and infrastructure company said Wednesday.
Under the bid, Aecon may purchase up to 3.43-million shares, or 5% of the company's outstanding shares, beginning on Aug. 19 and running for up to 12 months.
Under its expiring NCIB, the company repurchased 228,550 of an allowed 3.18-million shares.
Aecon shares closed up C$0.27 to C$45.40 Tuesday on the Toronto Stock Exchange.