BuybackNov 5, 2026, 06:41 AM
Magna Renews Share Buyback Program for Up to 25.78M Shares
AI Summary
Magna International Inc. announced the renewal of its Normal Course Issuer Bid (NCIB), allowing for the repurchase of up to 25,778,000 common shares, representing approximately 10% of its public float. The renewed bid is set to commence on November 9, 2026, and will conclude by November 8, 2027. Purchases will be made on the Toronto Stock Exchange (TSX) and New York Stock Exchange (NYSE) or other trading systems. Magna also established an automatic share purchase plan to manage repurchases during periods when it might otherwise be restricted. The company's current NCIB, which began in November 2025, is set to expire on November 6, 2026, having successfully repurchased all 25,300,000 authorized shares.
Key Highlights
- Magna announces renewal of Normal Course Issuer Bid (NCIB) to repurchase up to 25,778,000 shares.
- NCIB authorizes repurchase of approximately 10% of Magna's public float.
- The bid will commence on November 9, 2026, and terminate no later than November 8, 2027.
- Purchases can be made on the TSX or NYSE, or through alternative trading systems.
- An automatic share purchase plan will be established to facilitate purchases during blackout periods.
- Magna's previous NCIB, for up to 25,300,000 shares, will expire on November 6, 2026, with all shares repurchased.
Price Impact
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