Canadian Natural Resources (TSE:CNQ) has released an update.
Canadian Natural Resources Limited has announced its plan to initiate a Normal Course Issuer Bid, which allows them to buy back up to 10% of their public float within a year, reflecting a strong financial position with net debt below $10 billion. The share repurchase program aims to return 100% of the company’s free cash flow to shareholders through dividends and buybacks, adhering to their cash flow allocation policy. The company will also set up an automatic share purchase plan to facilitate the buyback during regulatory or self-imposed blackout periods.
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