National Bank Seeks to Repurchase 2.6% of Its Outstanding Common Shares
National Bank of Canada has announced its intention to launch a normal course issuer bid. This move will allow the bank to repurchase up to 10 million of its issued and outstanding common shares for a maximum of $2.25 billion, representing approximately 2.6% of the total number of common shares in circulation as of September 1, 2026.
The normal course issuer bid is subject to approval from both the Office of the Superintendent of Financial Institutions Canada and the Toronto Stock Exchange. It's expected to begin on or around October 9, 2026, and will conclude by October 8, 2027 at the latest.
The bank will make purchases under this bid through the facilities of the TSX and/or any alternative trading system in Canada. The price paid for each share will be the market price at the time of acquisition.