Thomson Reuters head office, 19 Duncan Street, Toronto, July 2024 file. Can Pac Swire / Wikimedia Commons (CC BY-SA 2.0, cropped).
Thomson Reuters plans to repurchase up to $500 million of its common shares under a new normal course issuer bid approved by the Toronto Stock Exchange, the company announced Wednesday.
Under the new NCIB, the company may repurchase up to 7 million common shares, about 1.6% of its 433,458,865 issued and outstanding shares as of October 31, 2026, between November 13, 2026, and November 12, 2027. Any shares repurchased will be cancelled.
Purchases may take place on the TSX, the Nasdaq Global Select Market and other eligible exchanges and trading systems, at the market price at the time of purchase. Daily repurchases on the TSX are capped at 181,938 shares, 25% of the average daily trading volume for the six months ended October 31.
The Woodbridge Company Limited, the company’s controlling shareholder with about 70% of outstanding shares, intends to participate proportionally in the buyback under a TSX exemption and an automatic disposition plan, so that its percentage interest is maintained. Woodbridge’s ownership has risen from about 62% over the last decade, primarily because of the company’s share repurchases.
Thomson Reuters said the bid gives it a flexible way to return capital to shareholders who choose to sell, within what it called a disciplined capital strategy balancing growth, leverage, credit ratings and shareholder returns. The company may suspend or discontinue repurchases at any time, and there is no assurance the full amount will be spent.
Under its previous amended NCIB, which became effective on February 27, 2026, Thomson Reuters repurchased 6,155,886 common shares at a cost of $600 million over the past 12 months, an average price of $97.48 per share.
JBizNews Desk | Toronto
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