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PrairieSky Royalty Gets TSX Approval to Repurchase Up to 17.6-Million Shares

PrairieSky Royalty (PSK.TO) after trade Monday said the Toronto Stock Exchange approved its renewed normal-course issuer bid (NCIB), allowing the company to repurchase and cancel up to 17.6-million shares over the next year.The buyback program will begin on June 4 and run for 12 months.The company has also entered into an automatic share purchase plan with its broker, enabling share repurchases during blackout periods and other times when the company would ordinarily be restricted from trading, according to the statement."PrairieSky currently intends to purchase up to a maximum of 17.6 million common shares to effect NCIB purchases over the next 12 months," the company said.