Thomson Reuters announced a yearlong repurchase plan for up to seven million shares, setting a $500 million ceiling as it balances shareholder returns with growth, leverage and credit ratings.
The Toronto Stock Exchange (TSX) approved the normal course issuer bid, which runs through Nov. 12, 2027. The maximum is about 1.6% of the 433,458,865 common shares outstanding on Oct. 31, 2026. The announcement states the $500 million limit without naming a currency. Purchases may take place on the TSX, Nasdaq Global Select Market and other eligible venues; shares bought back will be canceled. On the TSX, daily purchases are capped at 181,938 shares, except for block purchases. That limit equals 25% of the company’s average daily trading volume of about 727,753 shares over the six months ended Oct. 31.
Woodbridge, Thomson Reuters’ controlling shareholder, owns about 70% of its common shares and intends to sell in proportion to the company’s purchases, keeping its stake near that level. Thomson Reuters said Woodbridge’s ownership had grown from about 62% over the past decade, largely because of earlier company repurchases. Shareholders who sell through the program will receive proceeds.
For the quarter ended Sept. 30, Thomson Reuters reported revenue of US$1.833 billion, up 10% from a year earlier, and operating profit of US$402 million, down 22%. The prior-year result included a gain from selling the company’s remaining minority equity interest in the Elite business. Thomson Reuters said that comparison was the main factor in the decline; higher software amortization also contributed.
Reuters reported that investor concerns over rising AI spending and its possible effect on future profits had added pressure to Thomson Reuters shares after the company’s Nov. 3 results. The company’s buyback announcement did not cite AI spending as a reason for the program.
Thomson Reuters completed a previous $600 million repurchase program in July, buying back 6.2 million shares. The company may pause or end the new program, and will weigh trading conditions, its share price and other growth investment opportunities when deciding on purchases. The new bid is scheduled to open Friday, Nov. 13, 2026.
