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Most actively traded companies on the Toronto Stock Exchange

Canadian Press - Mon Apr 11, 2022

TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:

Toronto Stock Exchange (21,790.49, down 83.86 points.)

Suncor Energy Inc. (TSX:SU). Energy. Down 77 cents, or 1.9 per cent, to $40.50 on 12.3 million shares.

ARC Resources Ltd. (TSX:ARX). Energy. Down 28 cents, or 1.6 per cent, to $17.24 on 10.4 million shares.

TC Energy Corp. (TSX:TRP). Energy. Down $1.38, or 1.9 per cent, to $72.40 on 10.2 million shares.

Canadian Natural Resources (TSX:CNQ). Energy. Down $1.94, or 2.4 per cent, to $78.86 on 10.1 million shares.

Manulife Financial Corp. (TSX:MFC). Financials. Unchanged at $26.94 on 9.9 million shares.

Toronto-Dominion Bank (TSX:TD). Financials. Down five cents, or 0.1 per cent, to $96.68 on 9.6 million shares.

Companies in the news:

Loblaw Companies Ltd. (TSX:L). Up 70 cents to $118.44. A high-profile pricing dispute that saw one of Canada's largest food makers stop shipments of chips and snacks to the country's largest grocer has been resolved. Loblaw Companies Ltd. said brands like Cheetos, Doritos and Ruffles will be back on store shelves by Easter weekend after it resolved the matter with Frito-Lay Canada. Loblaw spokeswoman Catherine Thomas declined to comment on specific vendor negotiations but said the issue was about providing value to customers. Frito-Lay spokeswoman Sheri Morgan confirmed that the company has mutually resolved matters with one of its retail partners. In February, Frito-Lay halted shipments to Loblaw stores after the grocer allegedly refused a price increase brought forward by the food manufacturer.

Shopify Inc. (TSX:SHOP). Up $22.04 or 2.9 per cent to $780.02. Shopify Inc. is proposing changes to its governance structure to preserve founder and CEO Tobi Lütke's voting power, while also proposing a 10-for-one split of its class A and class B shares. Under the new plan announced Monday, the Ottawa-based e-commerce company will issue Lütke a non-transferable founder share that will have a variable number of votes that, when combined with his other holdings, will represent 40 per cent of the total voting power attached to all of the company's outstanding shares. However, the founder share will sunset if Lütke no longer serves as an executive officer, board member or consultant whose primary job is with the company or if Lütke, his immediate family and his affiliates no longer hold a number of class A and class B shares equal to at least 30 per cent of the class B shares they currently hold. In the event of a sunset of the founder share, Lütke will also convert his remaining class B shares into class A shares. The share split requires approval by a two-thirds majority of shareholders and at least a majority of the votes cast by shareholders excluding Lütke and his associates and affiliates. The matter will face a vote on June 7.

TC Transcontinental (TSX:TCL.A). Down five cents to $17.45. Montreal Mayor Valérie Plante said Monday grocery store flyers will be delivered only to residents who request them, marking a win for environmentalists and prompting criticism from the company behind the advertisements. Starting in May 2023, those who still want to receive the flyer bundles — dubbed the Publisac in Quebec — will have to slap a sticker on their door, Plante said. The bags will no longer be plastic. The move follows a public consultation by the city and years of criticism from environmental groups demanding a ban on Publisac deliveries. But TC Transcontinental, a Montreal-based packaging and printing company, says an opt-in system would effectively end its flyer distribution due to prohibitive costs and complexity. The 46-year-old firm says the current opt-out model, where residents can unsubscribe by contacting the company via its Publisac website, is "simple and effective." It says the deliveries currently go out to more than 200,000 Quebecers, including 120,000 Montreal households, allowing them to take advantage of grocery deals.

Metro Inc. (TSX:MRU). Up 51 cents to $73.31. Workers at a Metro distribution centre in Ontario have voted in favour of a new deal while workers at a Sobeys warehouse in Quebec have rejected the grocer's latest offer. More than 900 workers at Metro Inc.'s Toronto-area distribution centre ratified a new four-and-a-half-year collective agreement Friday, ending a one-week strike. Unifor said Metro warehouse workers in Etobicoke will receive an average wage increase of 15.8 per cent over the lifetime of the new deal. The union said the new collective agreement also includes higher shift premiums for freezer work, a shortened wage progression to reach the top rate, improvements to pensions and benefits and no concessions. Meanwhile, 190 workers at a Sobeys distribution centre in Terrebonne, Que., remain on strike after turning down the grocer's latest offer. Workers are currently paid wages of up to $30 an hour, and the proposed deal included salary increases on top of that, Sobeys spokeswoman Claudine Leblanc said in an email.

This report by The Canadian Press was first published April 11, 2022.

Provided Content: Content provided by Canadian Press. The Globe and Mail was not involved, and material was not reviewed prior to publication.