Stantec announces renewal of Normal Course Issuer Bid and Automatic Share Purchase Plan

Core Viewpoint - Stantec Inc. has received approval for the renewal of its Normal Course Issuer Bid (NCIB), allowing the company to repurchase up to 2,281,339 common shares, approximately 2% of its outstanding shares, from December 13, 2024, to December 12, 2025 [1][2]. Group 1: NCIB Details - The renewed NCIB allows Stantec to purchase shares at market prices, with a daily limit of 64,993 shares, which is about 25% of the average daily trading volume [1]. - The previous NCIB, which expires on December 12, 2024, saw Stantec repurchase 129,036 shares in 2023 at an average price of $77.25, totaling C$10 million [2]. - Stantec has not repurchased any shares in 2024 as it focused on growth through acquisitions [2]. Group 2: Automatic Share Purchase Plan (ASPP) - Stantec has renewed its Automatic Share Purchase Plan (ASPP) to facilitate share purchases during regulatory black-out periods [3]. - The ASPP will be effective once the NCIB commences and will end when the maximum purchase limit is reached, the NCIB expires, or the ASPP is terminated [4]. Group 3: Strategic Rationale - Stantec believes that its common shares may not always reflect the company's value and future prospects, making share repurchases an attractive investment strategy [5]. - This strategy aligns with Stantec's goals of maintaining balance sheet strength while investing in growth, paying down debt, and increasing dividends to enhance shareholder returns [5].