Business
CIBC Announces Intention to Repurchase up to 30 Million Common Shares
CIBC (TSX: CM) (NYSE: CM) today announced its intention to purchase for cancellation up to 30 million common shares under a normal course issuer bid, subject to the approval of the Toronto Stock Exchange (TSX). Common shares that may be purchased for cancellation represent approximately 3.3% of outstanding common shares as at April 30, 2026.
About this update from Canadian Imperial Bank Of Commerce
[{"type":"text","content":"TORONTO, May 28, 2026 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced its intention to purchase for cancellation up to 30 million common shares under a normal course issuer bid, subject to the approval of the Toronto Stock Exchange (TSX). Common shares that may be purchased for cancellation represent approximately 3.3% of outstanding common shares as at April 30, 2026.","length":378,"tagName":"p"},{"type":"image","alt":"CIBC logo (CNW Group/CIBC - Investor Relations)","displaySize":"","headline":null,"caption":"CIBC logo (CNW Group/CIBC - Investor Relations)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":103,"url":"https://media.zenfs.com/en/cnwgroup.com/630ec464275997e9e789c930069b8994"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/_Q7L5vSFwyhrBUEpSX5a1A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTE4Mg--/https://media.zenfs.com/en/cnwgroup.com/630ec464275997e9e789c930069b8994","width":400,"height":103},"resize_sm":{"url":"https://s.yimg.com/ny/api/res/1.2/693Qr_8xK0REjenY1tMb4w--/YXBwaWQ9aGlnaGxhbmRlcjt3PTY0MDtoPTE2NQ--/https://media.zenfs.com/en/cnwgroup.com/630ec464275997e9e789c930069b8994","width":400,"height":103}},"href":"https://mma.prnewswire.com/media/2985713/CIBC___Investor_Relations_CIBC_Announces_Intention_to_Repurchase.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"CIBC will file a notice of intention to make a normal course issuer bid with the TSX and this bid would commence following TSX's acceptance of this notice and continue for up to one year.","length":191,"tagName":"p"},{"type":"text","content":"The normal course issuer bid will provide CIBC additional flexibility in managing its capital position and generate shareholder value.","length":134,"tagName":"p"},{"type":"text","content":"Purchases would be made through the facilities of the TSX, alternative Canadian trading systems or the NYSE, in accordance with applicable regulatory requirements. The price paid for the common shares will be the market price at the time of the purchase.","length":254,"tagName":"p"},{"type":"text","content":"CIBC's previous normal course issuer bid for the purchase of up to 20 million common shares commenced on September 10, 2025 and expired on May 25, 2026. Over the term of the previous bid, CIBC purchased 20 million of its common shares for cancellation a...