CBCnews
LICENSE | EMAIL | PRINT | Text Size: S M L XL | REPORT TYPO | SEND YOUR FEEDBACK | Bookmark and Share

RIM to buy back $1.2B of own stock

Last Updated: Thursday, November 5, 2009 | 8:45 AM ET

CBC News

Research In Motion Ltd. will pay $1.2 billion to buy back 21 million of its common shares, the wireless device company said Thursday.

Three-month stock chart for Research in Motion Ltd. on the TSX.Three-month stock chart for Research in Motion Ltd. on the TSX. (CBC)

The purchase would represent roughly 3.6 per cent of the company's current float of shares. RIM hasn't bought back any of its own shares during the past year.

The plan will take effect starting Nov. 9.

"RIM’s board of directors believes that a share repurchase program at this time is in the best interests of RIM and its shareholders," the company's board of directors says in a release. "[It] will not impact RIM’s ability to execute its growth plans given the strength of RIM’s balance sheet and expected cash flow generation over the next several quarters."

  •  
LICENSE | EMAIL | PRINT | Text Size: S M L XL | REPORT TYPO | SEND YOUR FEEDBACK | Bookmark and Share
 

Find the best interest rates

Sponsored Feature

Select a product  

Close Close this window

Sponsored Feature

Rate Comparison

Banks & Trusts Interest Rate Minimum Deposit Features
Home Trust Company 0.85% $2,500  
Equitable Trust 0.80% $5,000  
Ally 0.75% $1 Guaranteed earnings. No minimums, fees or service charges.
SunLife Financial Trust 0.70% $1,000  
ResMor Trust 0.65% $5,000  
ICICI Bank Canada 0.50% $1,000  
ING Direct 0.50% $1  
Peoples Trust 0.50% $5,000  
Pacific & Western Bank 0.45% $5,000  
Bank West 0.35% $5,000  
Banks & Trusts Interest Rate Minimum Deposit Features
Home Trust Company 1.25% $2,500  
ResMor Trust 1.10% $5,000  
Ally 1.00% $1 Guaranteed earnings. No minimums, fees or service charges.
Equitable Trust 0.85% $5,000  
SunLife Financial Trust 0.80% $1,000  
Pacific & Western Bank 0.70% $5,000  
ING Direct 0.50% $1  
Manulife Bank 0.50% $25,000  
Peoples Trust 0.50% $5,000  
General Bank of Canada 0.50% $25,000  
Banks & Trusts Interest Rate Minimum Deposit Features
Home Trust Company 1.25% $2,500  
ResMor Trust 1.10% $5,000  
Ally 1.10% $1 Guaranteed earnings. No minimums, fees or service charges.
Equitable Trust 0.85% $5,000  
SunLife Financial Trust 0.80% $1,000  
Pacific & Western Bank 0.75% $5,000  
Manulife Bank 0.50% $25,000  
Peoples Trust 0.50% $5,000  
General Bank of Canada 0.50% $25,000  
ING Direct 0.50% $1  
Banks & Trusts Interest Rate Minimum Deposit Features
Ally 1.75% $1 No-Penalty option, no fees, daily compounded interest.
Home Trust Company 1.55% $1,000  
Pacific & Western Bank 1.55% $1,000  
ResMor Trust 1.46% $1,000  
SunLife Financial Trust 1.45% $1,000  
Community Trust 1.35% $1,000  
Korea Exchange Bank 1.30% $3,500  
State Bank of India (C) 1.30% $2,000  
ING Direct 1.25% $1  
Alterna Bank 1.20% $500  
Banks & Trusts Interest Rate Minimum Deposit Features
Ally 2.30% $1 Guaranteed earnings. No minimums, fees or service charges.
ING Direct 2.25% $1  
Pacific & Western Bank 2.15% $1,000  
Home Trust Company 2.15% $1,000  
ResMor Trust 2.11% $1,000  
SunLife Financial Trust 2.05% $1,000  
State Bank of India (C) 2.00% $2,000  
Korea Exchange Bank 2.00% $3,500  
Community Trust 1.95% $1,000  
HomEquity Bank 1.90% $5,000  
Banks & Trusts Interest Rate Minimum Deposit Features
Ally 2.75% $1 Guaranteed earnings. No minimums, fees or service charges.
Alterna Bank 2.75% $500  
Home Trust Company 2.65% $1,000  
SunLife Financial Trust 2.65% $1,000  
ResMor Trust 2.60% $1,000  
HomEquity Bank 2.55% $5,000  
Manulife Bank 2.50% $2,500  
ING Direct 2.50% $1  
President's Choice Fin'l 2.50% $500  
State Bank of India (C) 2.50% $2,000  
Banks & Trusts Interest Rate Minimum Deposit Features
Ally 3.60% $1 Guaranteed earnings. No minimums, fees or service charges.
SunLife Financial Trust 3.45% $1,000  
Home Trust Company 3.35% $1,000  
Pacific & Western Bank 3.30% $1,000  
B2B Trust 3.30% $500  
President's Choice Fin'l 3.25% $500  
ING Direct 3.25% $1  
HomEquity Bank 3.25% $5,000  
Manulife Bank 3.25% $2,500  
Canadian Western Bank 3.20% $500  
Banks & Trusts Interest Rate Minimum Deposit Features
Peoples Trust 2.10% $0  
Ally 2.00% $0 No minimums, no fees, daily compounded interest.
State Bank of India (C) 1.25% $1,000  
Canadian Tire Bank 1.20% $0  
ICICI Bank Canada 1.20% $0  
ING Direct 1.05% $0  
Amex Bank of Canada 1.00% $0  
Manulife Bank 1.00% $0  
Alterna Bank 0.85% $0  
Royal Bank of Canada 0.75% $0  
Banks & Trusts Interest Rate Minimum Deposit Features
Ally 2.00% $0 Invest up to $5000/year tax-free, withdraw at any time.
State Bank of India (C) 1.75% $0  
Bank of Nova Scotia 1.50% $0  
Canadian Tire Bank 1.50% $0  
ICICI Bank Canada 1.40% $0  
ING Direct 1.05% $0  
President's Choice Fin'l 1.00% $0  
Manulife Bank 1.00% $0  
BMO Bank of Montreal 1.00% $0  
HSBC Bank Canada 0.80% $0  

Money Headlines

Retail sales up 1% in September Video
Retail sales rose one per cent to $34.9 billion in September, the seventh increase in nine months.
GM asks EU for more restructuring cash
Weeks after killing a deal to sell its Europe-based Opel unit, GM has asked European governments to help pay $5 billion in restructuring costs to turn the division around.
Magna unit wins GM truck frame deal
A unit of Magna International Inc. has been chosen to supply frame assemblies for a new generation of full-size pickups and SUVs from General Motors.
News Corp. may pull out of Google News: reports
News reports say Microsoft has had discussions with News Corp. over a deal that would see the media company get paid to remove its news websites from Google.
Berens Energy looks for buyer
Calgary-based Berens Energy Ltd. said Monday it was putting itself up for sale.

Money Features

SMALL BUSINESSFeatures & video
Issues, trends and tricks that entrepreneurs need to know about
ECONOMYWashington
Birthday for a bailout
BUSINESSTwitter
Follow Amanda Lang and Kevin O'Leary
ECONOMYStrategic thinking
Friedman's theory finds little traction in economic recovery
ECONOMYInflation
MONEY TALKSMichael Hlinka
Those longer mortgages are going to hit retirement plans hard
More Features

People who read this also read …

Top CBCNews.ca Headlines

Headlines

Red Cross told late about prisoner transfers Video
Canadian officials delayed telling the Red Cross they had transferred prisoners to Afghan authorities, CBC News has learned, a situation that may have put detainees at greater risk of abuse.
Death toll up to 46 in Philippine killings
The death toll from a mass execution in the Philippines rose to 46 on Tuesday as 22 more bodies were found buried in the southern part of the country.
China executes 2 for tainted milk powder scandal
China executed two people Tuesday for their roles in a tainted milk powder scandal in which at least six children died and more than 300,000 became sick.
Baby cribs recalled after 4 deaths Video
U.S. government safety regulators are recalling more than 2.1 million drop-side cribs made by B.C.-based Stork Craft Manufacturing, the biggest crib recall in U.S. history.
Mother lost grip in child's airport fall: police Video
A 15-month-old Winnipeg-born boy died Sunday night after wriggling out of his mother's arms and falling about 15 metres at Toronto's Pearson International Airport.