Restaurant Brands renews repurchase framework supporting $1 billion plan

Restaurant Brands International ($QSR) received TSX approval to renew its normal-course issuer bid, allowing purchases of up to 34.4 million common shares over a 12-month period. The maximum represents 10% of the public float and supports a board-approved repurchase authorization of up to US$1 billion.

Purchases may be made through the TSX, NYSE and other permitted channels, and repurchased shares will be canceled. The framework runs into 2027 and is subject to market conditions and applicable trading rules. The announcement renews the mechanism for executing the capital-return plan; it does not mean that the maximum amount has already been spent or that every authorized share will necessarily be purchased. The share-count ceiling and dollar authorization are separate limits.

Sources:

• Restaurant Brands International — issuer-bid renewal, PR Newswire