Scotiabank received regulatory approval to repurchase up to 15 million of its common shares, representing approximately 1.2% of outstanding shares, under a new normal course issuer bid commencing April 7, 2026.
Key takeaways
The Bank of Nova Scotia received TSX and OSFI approval for a new normal course issuer bid to repurchase up to 15 million common shares, approximately 1.2% of shares outstanding as of March 24, 2026.
The existing bid, under which 20 million shares were purchased at an average price of $90.47 for a total of $1,809 million, will be terminated on April 6, 2026.
Purchases under the new bid may commence on April 7, 2026, and will terminate on April 6, 2027, with daily purchases limited to 1,114,002 shares based on average trading volume.
The bank stated the buyback provides flexibility to manage its capital position, offset options exercise dilution, and generate shareholder value.
Scotiabank will establish an automatic repurchase plan on April 7, 2026, under which its broker may periodically purchase shares within defined criteria, with timing and pricing dependent on market conditions.