Big six bank moves to buy back $10 billion of its own shares, pending OSFI approval
As of the close on May 29, RBC had repurchased 19,168,210 shares under its previous 35 million share bid at a volume weighted average price of approximately $215.85.
Scotiabank announced on April 2 that OSFI and the TSX had approved a bid to repurchase for cancellation up to 15 million common shares, with purchases commencing April 7, 2026 and terminating no later than April 6, 2027.
During the nine months ended July 31, the bank repurchased and cancelled approximately 19.9 million common shares at an average price of $107.42 for a total of $2,182m including tax, according to its third quarter report.
CIBC announced on June 4 that the TSX had accepted notice of its intention to commence a bid, to be completed on the earlier of CIBC purchasing 30 million common shares, providing a notice of termination, or June 7, 2027.
The bank’s previous bid for up to 20 million common shares commenced on September 10, 2025 and was completed on May 25, with 20 million shares repurchased at an average price of $129.68 for a total of $2,593m.
