Ovintiv renews share buyback program for up to 27 million common shares
The company received Toronto Stock Exchange approval to purchase up to 10 percent of its public float over a 12-month period.
Key takeaways
- Ovintiv Inc. (OVV) announced on Oct. 1, 2026, that it received Toronto Stock Exchange approval to renew its normal course issuer bid to purchase up to 26,973,037 common shares. The 12-month buyback program runs from Oct. 5, 2026, to Oct. 4, 2027, and represents 10 percent of the company's public float.
Ovintiv Inc. (OVV) said Wednesday that it received acceptance from the Toronto Stock Exchange to renew its normal course issuer bid to purchase up to 26,973,037 common shares. The 12-month program commences on Oct. 5, 2026, and ends on Oct. 4, 2027.
The authorized purchase amount represents 10 percent of the company's public float as of Sept. 21, 2026. Purchases will be made on the open market through the facilities of the Toronto Stock Exchange, the New York Stock Exchange, other designated exchanges, or alternative trading systems in Canada and the United States at the market price at the time of acquisition.
The company said the buyback renewal aligns with its capital allocation framework, which commits to returning 50% to 100% of annual Non-GAAP Free Cash Flow to shareholders through base dividend payments and share buybacks. For 2026, the company committed to returning at least 60% of annual Non-GAAP Free Cash Flow to shareholders.
Ovintiv also renewed its automatic share purchase plan to allow share repurchases under the bid during regulatory restrictions and customary self-imposed blackout periods. Purchases made through the automatic plan will be included in computing the total common shares purchased under the bid.
Daily purchases through the Toronto Stock Exchange facilities will be limited to 54,135 common shares, excluding block purchase exceptions, based on an average daily trading volume of 216,540 common shares for the six months ended Aug. 31, 2026. Purchases over the New York Stock Exchange will comply with volume limitations in Rule 10b-18.
Under its previous normal course issuer bid, which ran from Oct. 3, 2025, to Oct. 2, 2026, Ovintiv purchased 13,925,579 common shares through the close of trading on Sept. 30, 2026, at a weighted average purchase price of US$58.49 per common share. During the third quarter of 2026, the company purchased 6,332,551 common shares at a weighted average purchase price of US$60.90 per common share. All common shares acquired may be cancelled or returned to treasury.