Restaurant Brands International receives approval for share buyback plan
BNN Bloomberg
Restaurant Brands International Inc. has received approval from its board of directors to allow it to repurchase up to US$1 billion of its common shares over the next two years.
Through the approval, which last until Sept. 30, 2025, the restaurant ownership giant says it may buy and cancel up to 10 per cent of its outstanding shares.
The plan follows the expiration of the company's earlier share repurchase authorization for up to the same US$1 billion total.
By buying back its shares, a company reduces its equity base, spreading profits over fewer shares. That increases its return on equity and earnings per share, two key ratios used to determine a company's financial health and investment rating.
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