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Cenovus Energy Announces Renewal Of Normal Course Issuer Bid

CVE
  • Cenovus Energy Inc. received TSX approval to renew its normal course issuer bid (NCIB) to purchase up to 126,482,982 common shares.
  • The renewal period commences on November 11, 2026, and ends on November 10, 2027.
  • The new authorization represents 10% of Cenovus's public float as of October 31, 2026.
  • Cenovus will repurchase shares when the market price is deemed an attractive investment opportunity beneficial to shareholders.
  • Under the prior NCIB expiring November 10, 2026, the company had repurchased 88,320,447 shares at a weighted-average price of $38.35.
  • All shares acquired under the NCIB will be cancelled.
  • Purchases will occur on the open market via the TSX, NYSE, or alternative trading systems in Canada and the United States.
  • Cenovus has established an automatic share purchase plan (ASPP) to facilitate purchases during regulatory blackout periods.
  • Daily TSX purchases are capped at 1,333,112 shares, representing 25% of the average daily trading volume for the six months ending October 31, 2026.
  • NYSE purchases will comply with volume limitations under Rule 10b-18 of the U.S. Securities Exchange Act of 1934.