BuybackJun 26, 2026, 02:11 PM
Baytex Renews NCIB, Authorizes Buyback of 70.9M Shares
AI Summary
Baytex Energy Corp. announced the renewal of its Normal Course Issuer Bid (NCIB), allowing the company to repurchase up to 70,899,359 common shares. This renewed program, effective from July 2, 2026, to July 1, 2027, represents 10% of its public float and provides flexibility to return capital to shareholders and improve per-share metrics. The company also noted that under its previous NCIB, it repurchased 56,372,803 common shares at an average price of CAD $5.38.
Key Highlights
- Baytex renewed its Normal Course Issuer Bid (NCIB) for a 12-month period.
- The company is authorized to repurchase up to 70,899,359 common shares.
- The NCIB commences on July 2, 2026, and concludes on July 1, 2027.
- The authorized shares represent 10% of Baytex's public float as of June 19, 2026.
- As of June 19, 2026, Baytex had 712,593,536 common shares outstanding.
- Under its prior NCIB, Baytex repurchased 56,372,803 shares at a weighted-average price of CAD $5.38.
- Purchases will be made on the TSX, NYSE, and other trading platforms.
- An automatic share purchase plan (ASPP) has been established with BMO Nesbitt Burns Inc.
Price Impact
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