Algoma Central said its board of directors authorised a CAD 20m ($15.7m) buyback of its common shares.
The buyback represents up to 1.45 million shares, about 3.7% of the total issued and outstanding for the Ontario-based company.
Algoma says shareholders will either be able to tender shares to the company at prices between $13.75 and $14.75 in increments of $0.05
