National Bank of Canada intends to launch a share-repurchase program to buy back up to 2.6% of its shares for cancellation.
The Canadian lender on Friday said that its board has authorized a normal course issuer bid to buy back up to 10 million shares for cancellation for a maximum of 2.25 billion Canadian dollars ($1.59 billion).
National Bank's shares have been higher in 2026, up 21% year-to-date to close on Thursday at C$209.40.
The company can begin buying back the shares starting Oct. 9.
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