Loblaw, George Weston enter automatic share buyback plans

Loblaw Cos. Ltd. and parent company George Weston Ltd. say they have both entered into automatic share purchase plans with brokers.

The plans will allow the grocer's broker to buy back shares at times when Loblaw and George Weston would not be active because of insider trading rules and internal trading blackout periods.

The automatic buybacks will form part of the companies' existing repurchase programs.

Loblaw has a program running until May 4 to buy up to 16 million shares or about five per cent of its issued and outstanding shares.