TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (21,977.83, down 28.11 points.)
Suncor Energy Inc. (TSX:SU). Energy. Down $1.39, or 3.3 per cent, to $41.02 on 9.9 million shares.
TC Energy Corp. (TSX:TRP). Energy. Down 36 cents, or 0.5 per cent, to $72.01 on 7.7 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down 47 cents, or 2.2 per cent, to $20.48 on 7.7 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Down 11 cents, or 4.8 per cent, to $2.19 on 6.3 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Up 26 cents, or one per cent, to $26.60 on 5.9 million shares.
Toronto-Dominion Bank (TSX:TD). Financials. Up 16 cents, or 0.2 per cent, to $101.97 on 5.3 million shares.
Companies in the news:
Bank of Nova Scotia (TSX:BNS). Up two cents to $91.99. The Bank of Nova Scotia is increasing the size of its share buyback plan. The bank says it now plans to buy back and cancel up to 36 million of its common shares compared with its initial plan for up to 24 million that it announced late last year. Scotiabank says the new amount represents about three per cent of its issued and outstanding common shares as of Nov. 22, 2021. The effective date of the change is Wednesday. To date, the bank says it has bought back 20.2 million of its common shares for cancellation since the start of its current normal course issuer bid, which ends Dec. 1. By buying back its shares, the bank spreads its profits over fewer shares, increasing its earnings per share, a key ratio used to evaluate a company.
Leucrotta Exploration Inc. (TSXV:LXE). Up 65 cents to $1.95. Shares in Calgary-based Leucrotta Exploration Inc. were up more than 50 per cent midday Monday on news Vermilion Energy Inc. will acquire the junior energy company in a $477-million deal. Leucrotta is a Montney-focused oil and natural gas exploration and development company with property in northeast British Columbia and northwest Alberta. Calgary-based Vermilion — an international oil and gas producer with assets in North America, Europe and Australia — announced the deal Monday morning, saying Leucrotta's assets will provide "decades of inventory" to the company's western Canadian assets. The deal will see part of the Leucrotta land base and about $43.5 million in cash transferred to a new company that will be managed by the existing Leucrotta team. Under the agreement, Leucrotta shareholders will receive $1.73 in cash plus one common share and 0.1917 common share purchase warrants in the new company for each Leucrotta share held. Vermilion will also acquire a 12.5 per cent stake in the new company for $14 million. The deal includes a break fee of $20 million payable to Vermilion.
This report by The Canadian Press was first published March 28, 2022.
The Canadian Press
