: Imax’s stock repurchase program extended to 2026, with availability to reduce shares outstanding by 19%
Imax Corp. IMAX said Wednesday it extended its stock repurchase program for years, as the movie experiences company said it pushed back the program’s expiration to June 30, 2026 from June 30, 2023. The $400 million program, which kicked off in July 2017, has $191.5 million remaining. Based on Tuesday’s stock closing price of $18.31, the company could buy back 10.46 million shares under the current program, which represents 19.2% of the shares outstanding as of March 31. The company said its buyback program doesn’t include shares repurchased in connection with share-based compensation plans. The stock, which was inactive in the premarket, has run up 24.9% year to date while the S&P 500 SPX has advanced 13.8%.
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