#USA #Miami #share buyback #Restaurant Brands #RBI

Restaurant Brands International Announces NCIB Renewal

On September 11, 2026, Restaurant Brands International Inc. (TSX: QSR) (NYSE: QSR), recognized globally for its major fast-food brands, made a significant announcement regarding its share buyback strategy. The company declared that it has officially filed a renewal for its Normal Course Issuer Bid (NCIB), which has been accepted by the Toronto Stock Exchange (TSX). This initiative allows RBI to repurchase its common shares with a total budget of up to $1 billion, a move that the board has sanctioned. This plan will remain effective until September 30, 2027.

Key Details of the NCIB

Under the terms of the renewed NCIB, RBI aims to buy back a maximum of 34,404,688 common shares from the open market. This figure represents 10% of its public float of 344,046,880 common shares as reported on September 2, 2026. The buybacks will occur over a 12-month period, starting from September 16, 2026, and ending on September 15, 2027.

Share repurchases will be executed through various trading platforms including the TSX, the New York Stock Exchange (NYSE), and possibly other trading systems across Canada and the U.S. Moreover, RBI may explore private agreements alongside its buyback program where eligible, potentially at a discounted price relative to the current market value.

Additionally, RBI has indicated the possibility of employing derivatives-based strategies to aid its repurchase efforts. This includes the writing of put options and forward purchases, as well as leveraging accelerated share repurchase transactions, whenever feasible.

Previous NCIB Performance

The recent announcement comes on the heels of RBI's previous NCIB, which was initiated on September 16, 2025. In the duration leading up to September 10, 2026, RBI had successfully bought back and canceled 2,910,671 common shares at an approximate average price of $74.97 per share. This initiative showcased the company’s commitment to enhancing shareholder value through strategic share repurchase actions.

Corporate Strategy Behind the Buyback

RBI's decision to conduct a share buyback is rooted in a belief that the prevailing market prices of their common shares could represent a wise and effective allocation of corporate resources. The management will consider various factors, including market conditions and share prices, when determining when and how much stock to repurchase.

The company has also engaged in an automatic purchase plan with a broker to facilitate routine share acquisitions during designated blackout periods, enhancing operational efficiency while ensuring compliance with market regulations.

About Restaurant Brands International Inc.

RBI stands as one of the largest quick-service restaurant entities globally, boasting annual system-wide sales nearing $49 billion and a presence that spans over 33,000 restaurants across more than 120 countries. The company operates four of the most recognizable fast-food brands, namely, TIM HORTONS®, BURGER KING®, POPEYES®, and FIREHOUSE SUBS®. Each of these brands has established a legacy of serving consumers, franchisees, and communities for decades.

Through its commitment to sustainable practices with the Restaurant Brands for Good framework, RBI is actively working to generate improved outcomes related to food sustainability, environmental responsibility, and its impact on global communities.

Acknowledging Future Risks

While the current statement highlights proactive measures concerning share repurchase, it also contains forward-looking statements which denote management’s ongoing beliefs about future investments and performance metrics. As such, several uncertainties and risks may affect actual results, which RBI has outlined in its periodic filings with the U.S. Securities and Exchange Commission and equivalent Canadian regulatory bodies.

In conclusion, the renewal of RBI's Normal Course Issuer Bid is a strategic move that reflects its dedication to enhancing shareholder value while upholding its corporate responsibilities and commitments across its diverse portfolio of brands.