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Thomson Reuters Announces New US$600 Million Share Repurchase Program and US$605 Million Return of Capital and Share Consolidation Transactions

By The Northwire Desk — AI Analysis Feb 25, 2026 · 07:00 TRI · 123.45 THOMSON REUTERS CORPORATION
TRI · Price

Executive Summary

  • Thomson Reuters announced an amended normal‑course issuer bid (NCIB) to repurchase up to US$600 million of common shares, representing up to 16 million shares (≈3.55% of outstanding shares).
  • The company will return US$605 million to shareholders via a special cash distribution (≈US$1.36 per share) followed by a reverse stock split (share consolidation).
  • Shareholder approval is sought at a special meeting on April 28, 2026, with the transactions expected to close in early May 2026 pending court and shareholder consent.

Key Details

  • Amended NCIB: Effective February 27 2026; allows repurchase of up to 16 million shares between August 19 2025 and August 18 2026.
  • Daily Purchase Limit: Up to 91,026 shares per day (based on average daily volume of 364,105 shares).
  • Current Repurchases: 6,022,437 shares repurchased to date at an average price of US$166.05 per share (~US$1.0 billion total cost).
  • Automatic Share Purchase Plan (ASPP): To be entered into prior to the next quarterly blackout period, allowing purchases when not in possession of material non‑public information; will terminate with NCIB expiration.
  • Return of Capital: Special cash distribution of US$605 million (~US$1.36 per share) funded by proceeds from May 2024 sale of London Stock Exchange Group shares.
  • Share Consolidation: Reverse stock split ratio to be set based on volume‑weighted average price over the five trading days preceding effectiveness; will occur after cash distribution.
  • Tax Treatment: Intended to be tax‑free for Canadian shareholders; non‑Canadian residents may opt out of the cash distribution and retain shares.
  • Shareholder Meeting: Special meeting scheduled for Tuesday, April 28 2026 at 12:00 p.m. (Toronto time); requires ≥ two‑thirds vote to approve both transactions.
  • Board Recommendation: Unanimously recommends shareholders vote in favor; Woodbridge indicated support, making passage likely.
  • Court Approval: Transactions also require approval of the Ontario Superior Court of Justice (Commercial List).
  • Implementation Timeline: If approvals obtained, expected completion in early May 2026.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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