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Thomson Reuters Announces $500 Million Share Repurchase Program and New Normal Course Issuer Bid

TRI
  • Thomson Reuters announced plans to repurchase up to $500 million of its common shares under a new Normal Course Issuer Bid (NCIB) approved by the Toronto Stock Exchange (TSX).
  • The NCIB allows for the repurchase of up to 7 million shares, representing approximately 1.6% of the company's issued and outstanding common shares as of October 31, 2026.
  • Share repurchases will occur between November 13, 2026, and November 12, 2027, via open market transactions on the TSX, Nasdaq, or other eligible venues, with any bought-back shares being cancelled.
  • Daily repurchase limits on the TSX are capped at 181,938 shares, which equals 25% of the average daily trading volume for the six months ended October 31, 2026.
  • Controlling shareholder Woodbridge Company Limited holds approximately 70% of shares \& intends to participate proportionally in the NCIB to maintain its ownership percentage.
  • Thomson Reuters may purchase shares from Woodbridge commencing November 13, 2026, through an automatic disposition plan agreement during the TSX's Special Trading Session, subject to Woodbridge selling shares on trading days the company purchases from other shareholders.
  • The company has established an Automatic Share Purchase Plan (ASPP) to facilitate purchases during customary blackout periods, with all ASPP purchases counting toward the total NCIB limit.
  • In the 12 months prior to this announcement, Thomson Reuters purchased 6,155,886 shares at a total cost of $600 million, averaging $97.48 per share, under a previous $1.6 billion NCIB.
  • Future repurchase decisions will depend on market conditions, share price, \& other capital investment opportunities, with the company retaining the right to suspend or discontinue the program at any time.
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Thomson Reuters
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Thomson Reuters