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Suncor Energy Inc. plans to buy back shares

The plans from Suncor have been revealed on how they plan to buy back $1-billion worth of its own stock.

The company is  trying to strengthen its new focus on financial returns instead of production growth.

This is the second time in its 20 year history that it has announced plans to buy shares, though its quarterly divedend is being consistently raised.

This is all due to rising costs at a time where its stock is growing weak.

Executives could spend money on expensive projects, or their other option…buy back what they see are cheap shares.

September 19th, 2012