February 26, 2010 (FinancialWire) — Tim Hortons Inc.’s (TSX: THI) (NYSE: THI) board has approved of a new 12-month Cdn$200 million share repurchase program to commence in March 2010, subject to receipt of final regulatory approval.

According to the company, the maximum number of shares that may be purchased during any trading day may not exceed 25% of the average daily trading volume on the Toronto Stock Exchange, based on the previous six completed calendar months, excluding purchases made by Tim Hortons under its current normal course issuer bid, which will terminate on March 1, 2010.

Canada-based Tim Hortons is a restaurant chain in North America operating in the quick service segment of the restaurant industry.

As of January 3rd, 2010, Tim Hortons had 3,578 systemwide restaurants, including 3,015 in Canada and 563 in the United States.

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