#share buyback #Thomson Reuters #Capital Return

Thomson Reuters Announces Major Share Repurchase Program

In a significant move set to reshape its financial strategy, Thomson Reuters (TSX/Nasdaq: TRI) has revealed plans for a robust share repurchase program valued at up to $600 million. This initiative has been sanctioned by the Toronto Stock Exchange (TSX) and aligns with the company’s overarching commitment to shareholder value enhancement. The announcement, made on February 25, 2026, also entails an impressive $605 million return of capital, coupled with share consolidation transactions expected to finalize in May 2026.

Overview of the Share Repurchase Program

The newly structured normal course issuer bid (NCIB) will allow Thomson Reuters to repurchase up to 16 million common shares over the course of one year. This expansion from the previously sanctioned 10 million shares follows the approval of the amended bid by the TSX. As of now, a total of 6,022,437 shares have been repurchased at an average price of $166.05 each, amounting to roughly $1 billion.

The company plans to initiate share repurchases on multiple trading platforms, including the TSX and the Nasdaq Global Select Market. Established trading volume metrics indicate that daily purchases will be capped at 91,026 shares, ensuring compliance with market regulations and shareholder protections. Any repurchased shares will be subsequently cancelled, reducing the total number of outstanding shares.

A unique aspect of the strategy involves an automatic share purchase plan (ASPP), which allows the company to buy back shares even during typical blackout periods. This plan is crafted in accordance with TSX rules and applicable U.S. securities laws, aiming to maximize shareholder value by facilitating strategic purchases at optimal times.

Return of Capital and Share Consolidation

An equally noteworthy component of Thomson Reuters' announcement is the anticipated return of capital of $605 million. This return stems from gross proceeds linked to the sale of London Stock Exchange Group shares in May 2024. Under the proposed transaction, each participating shareholder could receive approximately $1.36 in cash.

Additionally, a share consolidation or