Swiss Water Ltd. said on Monday it received approval from the Toronto Stock Exchange (TSX) for a 10% share buyback program valued at up to C$50 million.
The Vancouver-based water treatment company plans to repurchase its common shares on the open market, subject to market conditions and regulatory requirements. The program is set to run for 12 months from the approval date, with no obligation to purchase the full amount.
Swiss Water did not disclose specific timing for the buybacks but noted the initiative is part of its capital allocation strategy. The company has not provided further details on the potential impact on earnings per share or shareholder returns.
The TSX approval follows Swiss Water’s recent financial performance, which has included steady revenue growth in its core water treatment and bottled water segments. The buyback program is expected to enhance shareholder value by reducing outstanding shares, though the company cautioned that market conditions may affect execution.
Swiss Water operates in North America’s bottled water and water treatment markets, serving both consumer and industrial clients. The company’s shares trade under the ticker SWW on the TSX Venture Exchange.
