(Toronto) Restaurant Brands International (RBI) has received board approval to repurchase up to US$1 billion of its common stock over the next two years.

With the approval, which will be in effect until September 30, 2025, the owner of Tim Hortons and Burger King brands says he can buy and cancel up to 10% of his outstanding shares.

This program follows the expiration of a previous authorization to buy back shares of the company, for a total amount of 1 billion US.

By buying back its shares, a company reduces its equity, thus spreading its profits over a smaller number of shares. This increases return on equity and earnings per share, two key ratios used to determine a company’s financial health and investment rating.

Last year, Restaurant Brands received approval from the Toronto Stock Exchange to repurchase up to 30.3 million shares, or 10% of its outstanding shares, from it, but the company did not repurchase any shares in under this plan.

RBI announced last month that its quarter ended June 30 had seen its sales increase by 10% compared to the same period last year.