Canadian Natural Resources Limited announced that the TSX has accepted notice for a new Normal Course Issuer Bid (NCIB) commencing March 13, 2026, authorizing the purchase for cancellation of up to 182,396,564 common shares, representing 10% of the public float as of February 27, 2026. The company outlined its free cash flow allocation policy prioritizing share repurchases for shareholder returns.
Key takeaways
TSX approved NCIB for up to 182,396,564 common shares (10% of public float as of February 27, 2026)
NCIB period: March 13, 2026 to March 12, 2027
Daily TSX purchase limit: 4,071,234 shares (25% of 6-month average daily volume)
ASPP to be implemented March 13, 2026, terminating March 5, 2027
Free cash flow allocation: 60% to share repurchases and 40% to balance sheet until net debt reaches $16 billion
Under prior NCIB, purchased 27,810,000 shares at weighted average price of $43.99 as of February 27, 2026