TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,416.31, up 0.1 point.)
Suncor Energy Inc. (TSX:SU). Energy. Up 81 cents, or 2.89 per cent, to $28.81 on 8.5 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Up 37 cents, or 2.7 per cent, to $14.06 on 8.2 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Up three cents, or 3.19 per cent, to 97 cents on 7.9 million shares.
Canadian Natural Resources (TSX:CNQ). Energy. Up 80 cents, or 1.64 per cent, to $49.62 on 5.5 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 39 cents, or 0.76 per cent, to $51.59 on 5.3 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down five cents, or 2.4 per cent, to $2.03 on 5.2 million shares.
Companies in the news:
Alimentation Couche-Tard Inc. (TSX:ATD.B). Down 51 cents or 1.06 per cent to $47.68. Alimentation Couche-Tard Inc. says it has reached an agreement with the retailer's co-founder and executive chairman to purchase 6.35 million Class B shares for about $300 million. The Quebec-based convenience store company says the $47.23 per share purchase from Developpements Orana Inc., a company controlled by Alain Bouchard, represents a two per cent discount on Thursday's closing share price. The purchase, to be funded by cash on hand, was approved by independent board members after a special committee consulted with outside legal and financial advisers and received a fairness opinion. Quebec's securities regulator agreed to exempt the company from issuer bid requirements. The repurchase comes after Bouchard and three other founders who built the convenience store empire agreed to let their 25-year-old stock rights that gave them control of the company expire. Eric Boyko, a company director and chair of the special committee, said the transaction represents "a unique opportunity to repurchase shares at an attractive price, which will create value for all shareholders." Bouchard will continue to own or control about 35.1 per cent of total voting rights, down from about 35.3 per cent before the repurchase.
MTY Food Group Inc. (TSX:MTY). Down $3.87 or 5.6 per cent to $65.23. MTY Food Group Inc. recorded an uptick in sales and profits in its third quarter amid a rebound in customer traffic at the company's restaurants. The Montreal-based restaurant franchisor and operator said Friday the positive results come despite ongoing supply-chain issues, labour shortages and temporary restaurant closures due to the COVID-19 pandemic. MTY reported a third-quarter profit of $24.3 million, up from $22.9 million a year ago. The profit amounted to 98 cents per diluted share for the quarter ended Aug. 31, down from 93 cents per diluted share a year earlier. Revenue totalled $150.8 million, up from $135.4 million a year ago. The company behind more than 80 restaurant brands including Thai Express, Tiki-Ming and Tutti Frutti said system sales in Canada were up 29 per cent while system-wide sales across all markets were up 13 per cent. The company said 456 locations were temporarily closed for at least one day during the quarter, resulting in approximately 19,300 business days lost. MTY said 139 of its restaurants currently remain temporarily closed as a result of the COVID-19 pandemic.
This report by The Canadian Press was first published Oct. 8, 2021.
The Canadian Press