Kinross Gold renews share buyback program in Toronto

Kinross Gold Corporation has announced the renewal of its normal course issuer bid (NCIB) program. The Toronto Stock Exchange has approved this renewal, allowing Kinross to repurchase up to 110.35 million of its common shares. This figure represents around 10% of the company’s public float. The buyback program will run from March 24, 2025, to March 23, 2026. Kinross believes that its shares may sometimes be undervalued in the market. Buying back shares could benefit the company and its shareholders. The company also aims to enhance shareholder returns through this program and by paying quarterly dividends. The repurchases will happen through various trading platforms, including the TSX and NYSE. Daily purchases on the TSX will be capped at around 853,989 shares. Any shares bought will be canceled afterward. The previous NCIB allowed for the repurchase of over 108 million shares, but no shares were actually bought back. Kinross will follow all rules set by the stock exchanges for the program. While the company intends to repurchase shares, it is not obligated to do so. Kinross is an established gold mining company with projects in several countries, including the USA, Brazil, and Canada.