Enerflex plans share buyback to boost shareholder returns

Enerflex Ltd. has announced plans for a stock buyback program. The company received approval from its Board to start a Normal Course Issuer Bid (NCIB). This will allow Enerflex to repurchase up to 5% of its common shares over the next year. The buyback will take place through the Toronto Stock Exchange and other trading platforms. Enerflex believes this action will increase returns for shareholders. The company recently raised its quarterly dividend by 50, which reflects its strong financial position. Preet Dhindsa, the Interim CEO of Enerflex, stated that the current market price of the shares does not fully represent their value. The company will provide more details about the buyback once it gets approval from the TSX. The announcement included forward-looking statements about the company's expectations and potential risks. These statements express management's beliefs regarding economic conditions and market trends. Enerflex is committed to energy infrastructure and sustainability. The company's shares trade both on the Toronto Stock Exchange and the New York Stock Exchange.