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LAVAL, QUEBEC - Alimentation Couche-Tard Inc. (TSX:ATD) announced Monday that the Toronto Stock Exchange has approved its share repurchase program authorizing the convenience store operator to buy back up to 77,115,921 common shares, representing 10% of its public float. The company, which has maintained dividend payments for 21 consecutive years according to InvestingPro data, continues to demonstrate its commitment to shareholder returns.
The repurchase program, valued at approximately US$4.2 billion or CDN$5.8 billion at current share prices, will commence July 23, 2025, and run through July 22, 2026. As of July 14, 2025, Couche-Tard had 948,064,405 shares outstanding.
"With a strong balance sheet and confidence in our long-term strategy, we believe this program represents an efficient way to create long-term shareholder value," said Filipe Da Silva, Chief Financial Officer, in a press release statement. This confidence is supported by InvestingPro data showing the company’s strong financial health score of 3.03 (rated as "GREAT") and moderate debt levels, with a debt-to-capital ratio of just 0.12.
The stock has shown remarkable momentum, with a 50.38% return year-to-date and 46.04% over the past year. Under TSX requirements, Couche-Tard can purchase up to 329,138 shares on any trading day, representing 25% of its average daily trading volume of 1,316,554 shares for the six months preceding June 30, 2025. Based on InvestingPro’s Fair Value analysis, the stock appears to be trading near its fair value. Subscribers can access 7 additional exclusive ProTips and comprehensive valuation metrics for ATD.
The company will make purchases through the TSX, alternative trading systems in Canada, and potentially outside TSX facilities pursuant to exemption orders from securities regulators. All repurchased shares will be cancelled upon acquisition.
Couche-Tard has established an automatic share purchase plan with a designated broker to facilitate repurchases during blackout periods.
In its previous repurchase program that expired April 30, 2025, Couche-Tard repurchased 8,695,652 shares outside TSX facilities through a private agreement at CAD$80.50 per share.
Couche-Tard operates nearly 17,000 convenience stores globally across 29 countries and territories, with approximately 13,000 locations offering road transportation fuel. The company employs about 146,000 people throughout its network. Financial metrics reveal a healthy business with a 21.33% gross profit margin and strong liquidity with a current ratio of 2.53. The company generated $4.46 billion in revenue over the last twelve months, with a solid return on equity of 25%.
In other recent news, Alimentation Couche-Tard reported its Q4 FY2025 earnings, showing a net income of $439 million, or $0.46 per share, with a fiscal year total of $2.6 billion, marking a 5.5% decrease from the previous year. Despite the earnings decline, the company saw a 6% rise in adjusted EBITDA for the quarter. Couche-Tard also received U.S. Federal Trade Commission clearance for its acquisition of GetGo Café + Market, which is expected to close soon. The company agreed to divest 35 sites as part of the regulatory approval process. In other developments, Alimentation Couche-Tard withdrew its takeover bid for Seven & i Holdings due to a lack of engagement from the Japanese company. The Canadian firm had initially offered a 47.6% premium to acquire Seven & i. Meanwhile, Seven & i Holdings continues to face skepticism about its plan to list 7-Eleven in the U.S., although the company maintains that its IPO plans are still in place. Analysts from Aizawa Securities suggest that Seven & i should retain its full stake in 7-Eleven, considering it a valuable asset.
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