Sun Life Announces Renewal of its Normal Course Issuer Bid

Core Viewpoint - Sun Life Financial Inc. has received approval for a normal course issuer bid (NCIB) to repurchase up to 15,000,000 common shares, representing approximately 2.6% of its outstanding shares, as part of its capital management strategy [1][2]. Group 1: NCIB Details - The NCIB will commence on August 29, 2024, and continue until August 28, 2025, or until the completion of the share purchases [3]. - The average daily trading volume (ADTV) on the TSX for the six months ending July 31, 2024, was 2,108,275 common shares, allowing the company to purchase up to 527,068 shares per trading day [3]. - Purchases may be made through various Canadian trading platforms at prevailing market rates, and may also include private agreements or share repurchase programs under exemption orders [4]. Group 2: Automatic Repurchase Plan - The company has established an automatic repurchase plan with its designated broker to facilitate share purchases during internal trading blackout periods [5]. - The plan is compliant with TSX rules and applicable Canadian securities laws, and has been pre-cleared by the TSX [5]. Group 3: Previous NCIB Performance - Under the prior NCIB, which began on August 29, 2023, the company sought to purchase up to 17,000,000 common shares and had purchased 10,300,710 shares at a weighted average price of $69.40 per share as of August 20, 2024 [6]. Group 4: Company Overview - Sun Life is a leading international financial services organization with total assets under management of $1.46 trillion as of June 30, 2024, providing asset management, wealth, insurance, and health solutions [10].