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National Bank Of Canada Amends Its Normal Course Issuer Bid

BY MT Newswires | ECONOMIC | 03/10/26 10:02 AM EDT

10:02 AM EDT, 03/10/2026 (MT Newswires) -- National Bank of Canada (NTIOF) announced Tuesday that the Toronto Stock Exchange and the Office of the Superintendent of Financial Institutions have approved an amendment to the bank's normal course issuer bid.

The bank in a statement said this amendment is intended to increase the maximum number of its issued and outstanding common shares that may be repurchased for cancellation under the current NCIB, by allowing the repurchase of up to 14.5 million common shares, representing 3.70% of the bank's 392,169,565 issued and outstanding common shares as at Sept. 11, 2025.

The program, launched on Sept. 25, 2025, originally allowed the bank to repurchase up to 8 million common shares, representing 2.04% of its issued and outstanding common shares as at Sept. 11, 2025. As at Feb. 28, 2026, the bank had repurchased 6,376,200 common shares at an average price of $165.75 under the current NCIB, representing 1.63% of the issued and outstanding common shares as at Sept. 11, 2025, when the bank filed its initial application with the TSX.

National Bank said the amendment will take effect on March 12, 2026. The program will terminate on Sept. 24, 2026, as previously announced. No other terms of the current normal course issuer bid have been amended.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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