Canadian Preferred Share Trust (TSX:PFT.UN) announces a share repurchase program. Under the program, the company will repurchase up to 701,356 Class A units representing approximately 10% of the public float. The company will purchase its shares through the facilities of the TSX.

All units purchased will be cancelled. The company will not purchase in any given 30-day period, in aggregate, more than 140,271 units, being 2% of the issued and outstanding units as of July 23, 2015. Fiera Capital Corp., the manager of the trust, believes that such purchases are in the best interests of the trust.

The company received approval from the Toronto Stock Exchange to make the share repurchase. The program will commence on August 4, 2015, and will expire on August 3, 2016. As of July 23, 2015, the trust had 7,013,569 issued and outstanding units.