Global Finance News
07 Nov 2025, 20:05
Cenovus renews share buyback program for up to 120 million shares
Cenovus Energy Inc. (TSX: CVE, NYSE: CVE) announced that the Toronto Stock Exchange has approved the renewal of its normal course issuer bid (NCIB), allowing the company to repurchase up to 120,250,990 common shares between November 11, 2025 and November 10, 2026. The program represents about 10% of Cenovus’s public float as of October 31, 2025.
Under its previous NCIB, set to expire November 10, 2025, Cenovus repurchased 82.6 million shares at an average price of $21.58. The renewal aligns with the company’s capital allocation strategy, focusing on returning cash to shareholders while maintaining a strong balance sheet.
Cenovus also implemented an automatic share purchase plan (ASPP) to enable buybacks during blackout periods, pre-cleared by the TSX. All repurchased shares will be cancelled. Daily purchases through the TSX will be capped at 2,318,371 shares, or 25% of the six-month average daily trading volume.
The company emphasized that the buyback reflects confidence in its long-term value and strategic commitment to enhancing shareholder returns.
Cenovus Energy Inc. (TSX: CVE, NYSE: CVE) announced that the Toronto Stock Exchange has approved the renewal of its normal course issuer bid (NCIB), allowing the company to repurchase up to 120,250,990 common shares between November 11, 2025 and November 10, 2026. The program represents about 10% of Cenovus’s public float as of October 31, 2025.
Under its previous NCIB, set to expire November 10, 2025, Cenovus repurchased 82.6 million shares at an average price of $21.58. The renewal aligns with the company’s capital allocation strategy, focusing on returning cash to shareholders while maintaining a strong balance sheet.
Cenovus also implemented an automatic share purchase plan (ASPP) to enable buybacks during blackout periods, pre-cleared by the TSX. All repurchased shares will be cancelled. Daily purchases through the TSX will be capped at 2,318,371 shares, or 25% of the six-month average daily trading volume.
The company emphasized that the buyback reflects confidence in its long-term value and strategic commitment to enhancing shareholder returns.