When we see an issuer repurchasing shares, we also like to see officers or directors buying shares as that provides some confirmation that the buybacks are being conducted at an opportune time. When we compiled the top 100 Canadian issuers ranked by buyback dollar amounts for March, No. 5 Manulife Financial MFC-T caught our attention. It spent $192.9-million repurchasing stock that month, and we also saw some insider buying. Between March 8th and 9th, director Don Lindsay picked up 100,000 shares at prices ranging from $26.64 to $27.00.
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Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.
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