Dividends & Buybacks ·
Magna secures TSX approval for $25.8M normal course issuer bid, authorizing repurchase of up to 10% of public float
MGAMagna International Inc
The Toronto Stock Exchange has accepted Magna International's notice of intention to renew its normal course issuer bid (NCIB). The authorization permits the company to purchase up to 25,778,000 common shares, representing approximately 10 percent of its public float. The new program takes effect on November 9, 2026, and will terminate no later than November 8, 2027. Concurrently, Magna established an automatic share purchase plan with a designated broker to facilitate purchases during regulatory blackout periods or when market restrictions limit open-market trading. This renewal follows the completion of the previous bid, which authorized the repurchase of 25,300,000 shares and expired on November 6, 2026. Magna International is one of the world's largest automotive suppliers.