Brookfield Business Corporation's stock saw an uptick today following the announcement that Brookfield Infrastructure Partners and Brookfield Infrastructure Corporation have received approval from the Toronto Stock Exchange to renew their normal course issuer bids. This renewal allows them to repurchase a significant portion of their outstanding units and shares, which is often perceived positively by investors as it can indicate management's confidence in the company's value and prospects. The renewed issuer bids provide flexibility to buy back units or shares if they are trading below their intrinsic value, potentially enhancing shareholder value.
The current price of Brookfield Business Corporation's stock is $27.82, which is unchanged in after-hours trading. The stock closed at $27.82 on November 27, 2024, marking a 2.73% increase from the previous business day's close of $27.08.