India, Sept. 11 -- Boyd Group Services Inc. (BGSI) is up 7.90 percent, gaining $6.43 to $87.99 on Friday. The move comes after the Toronto Stock Exchange approved the company's Notice of Intention to carry out a Normal Course Issuer Bid to repurchase its common shares for cancellation. Management said the buyback provides another capital allocation option to support shareholder value.
Boyd Group Services is currently trading at $87.99, up from its previous close of $81.55 on the New York Stock Exchange. The stock opened at $84.90 and has traded between a high of $89.90 and a low of $85.20. Trading volume stands at 76,348 shares, compared with an average volume of 50,750 shares.
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