Imperial Oil renews one-year share buyback for up to 5% of outstanding stock starting June 29

Imperial Oil said it has renewed its normal course issuer bid for up to 5% of its outstanding shares, or a maximum of 24.2 million shares, with the program set to begin on June 29. The company said the Toronto Stock Exchange has given final acceptance for the plan. Imperial said some repurchases will be made in the open market, while others may be bought from controlling shareholder Exxon Mobil to keep its stake at about 69.6%.