Thomson Reuters Corp. (TRI), the news tech major, Wednesday announced that it plans to repurchase up to $600 million of its common shares under an amended normal course issuer bid or NCIB and return $605 million to shareholders through a return of capital transaction.
The amended NCIB has been accepted by Toronto Stock Exchange or TSX and will become effective on February 27. Under the new NCIB up to 16 million common shares representing approximately 3.55 percent of the company's 450,687,724 issued and outstanding shares as of August 12, 2025 may be repurchased between August 19, 2025 and August 18, 2026.
Further, the company will return gross proceeds derived from the May 2024 sales of London Stock Exchange Group shares through a return of capital consisting of a special cash distribution of $605 million, or approximately $1.36 in cash per share followed by a reverse stock split, which will reduce the number of common shares on a basis that is proportional to the special cash distribution.
In pre-market activity, TRI shares were trading at $90.92, up 0.92% on the Nasdaq.
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