Imperial Oil announced on June 23, 2025, that it has received final acceptance from the Toronto Stock Exchange (TSX) for a new normal course issuer bid (NCIB). This program allows the company to repurchase up to five percent of its 509,044,963 outstanding common shares, or a maximum of 25,452,248 shares, over the next 12 months. The new program will commence on June 29, 2025, and conclude by June 28, 2026.
The renewal of the NCIB underscores Imperial Oil's commitment to returning surplus cash to shareholders, leveraging its strong balance sheet and cash generation capabilities. ExxonMobil, Imperial's majority shareholder, has indicated its intention to participate in the program to maintain its proportionate share ownership at approximately 69.6 percent.
The previous NCIB program was completed on December 19, 2024, with the company purchasing the maximum allowable 26,791,840 shares at a total cost of approximately $2,681 million. This new program provides a flexible and tax-efficient mechanism for distributing liquidity to shareholders and offsetting dilution from restricted stock unit plans.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.