Magna International Inc. plans to begin a new share repurchase authorization Nov. 9, 2026, after using the full limit under its previous bid. The new ceiling is 25,778,000 shares, or about 10% of the company’s public float, and runs through Nov. 8, 2027.
Magna said the Toronto Stock Exchange accepted the authorization. Its limit is 478,000 shares above the previous bid’s 25.3 million-share cap, which Magna had reached by the close of trading Oct. 30. That bid had been scheduled to expire at the close of trading Nov. 6.
As of Oct. 31, 2026, Magna had 258,383,499 common shares issued and outstanding, including a public float of 257,862,127 shares. The authorization sets a maximum and does not require the company to purchase all the shares. Magna has not said how many it will buy or set a schedule for purchases.
Magna said it may use repurchases to retire shares or support its stock-compensation programs. For purchases intended to retire shares, Magna said it will weigh the market price against other uses of company funds. The company has not quantified the benefit to remaining shareholders, the impact on compensation recipients or the cash cost of the new authorization.
Under the previous bid, Magna reported weighted-average purchase prices of C$86.13 and US$62.10. It canceled 25,044,933 of the shares bought, with the rest used to fund stock-based compensation. In its Oct. 30 quarterly report, the company also said it bought 1,273,234 shares for cancellation after Sept. 30 for US$82 million.
For purchases on the Toronto Stock Exchange, the usual daily limit is 279,091 shares, subject to exceptions for block purchases. Magna calculated that limit as 25% of average daily trading volume of 1,116,366 shares over the preceding six months. The company may also buy shares on the New York Stock Exchange, through alternative trading systems or in certain private arrangements.
Magna established an automatic purchase plan with a designated broker. It allows purchases under instructions and limits set by the company during some regulatory restrictions or self-imposed blackout periods. The new bid is scheduled to start Nov. 9, 2026.
