Sun Life Financial Inc. plans to buy back 29.6 million or about 5% of its common shares in the coming year, the company announced Thursday.
In 2004, Sun Life repurchased 10 million shares at an average price of $37.93 each.
The company said its 2005 buyback program will start Jan. 12 and continue until Jan. 11, 2006, or until it completes its purchases at market prices.
Shares of Sun Life were up 15¢ to $40.05 in midday trading on the TSX.
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