Gildan Activewear Increases Size Of Existing NCIB Program - Quick Facts

(RTTNews) - While reporting its third-quarter financial results, Gildan Activewear Inc.(GIL, GIL.TO) said it has increased the common share allotment of its current normal course issuer bid or NCIB program.

Gildan said it received approval from the Toronto Stock Exchange or TSX to amend its current NCIB in order to increase the maximum number of common shares that may be repurchased from 11.51 million common shares, or 5 percent of the company's issued and outstanding common shares as at February 17, 2017, to 16.12 million common shares.

This represents approximately 7.2 percent of the public float, or 7 percent of the company's issued and outstanding common shares as at February 17, 2017. No other terms of the NCIB have been amended.

The NCIB, which began February 27, 2017, will end no later than February 26, 2018.

Gildan also said that its board of directors has declared a cash dividend of US$0.0935 per share, payable on December 11, 2017 to shareholders of record on November 16, 2017.