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Scotiabank Receives Approval to Repurchase Up to 20 Million of its Common Shares
Scotiabank Receives Approval to Repurchase Up to 20 Million of its Common Shares Canada...
About this update from Bank Of Nova Scotia
[{"type":"text","content":"\n\n\n\n Scotiabank Receives Approval to Repurchase Up to 20 Million of its Common Shares\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n May 28, 2025\n \n\n /CNW/ - The Bank of\n \n Nova Scotia\n \n (\"Scotiabank\" or the \"Bank\") (TSX: BNS) (NYSE: BNS) announced today that the Toronto Stock Exchange (\"TSX\") and the Office of the Superintendent of Financial Institutions (\"OSFI\") have approved its normal course issuer bid to purchase up to 20 million of its Common Shares. This represents approximately 1.6 per cent of the 1,245,577,909 Common Shares issued and outstanding as of\n \n May 23, 2025\n \n .\n \n\n\n\n\n\n\n\n\n The proposed normal course issuer bid will allow the Bank to purchase its Common Shares at market prices, which Scotiabank believes provides added flexibility for the Bank to manage its capital position and generate shareholder value.\n \n\n Purchases under the bid may commence on\n \n May 30, 2025\n \n , and will terminate on\n \n May 29, 2026\n \n , or on such earlier date as Scotiabank may complete its purchases pursuant to the notice of intention to make a normal course issuer bid filed with the TSX. Purchases will be made on the open market by Scotiabank through the facilities of the TSX, as well as alternative Canadian trading systems. The price that Scotiabank will pay for any such Common Shares will be the market price of such Common Shares at the time of acquisition. Purchases may also be made through other means permitted by the TSX and applicable securities laws, including by private agreements or under specific share repurchase programs pursuant to issuer bid exemption orders issued by applicable securities regulatory authorities. Any purchases made under an exemption order issued by a securities regulatory authority will generally be at a discount to the prevailing market price.\n \n\n Based on the average daily trading volume of 4,837,008 Common Shares during the last six calendar ...