National Bank of Canada launches a CAD 2.25 billion buyback for National Bank of Canada stock

National Bank of Canada (ISIN CA6330671034) confirmed a normal course issuer bid for up to 10,000,000 common shares, with a maximum value of CAD 2.25 billion, on October 6, 2026. As FT reports, the authorization represents 2.60 percent of the 381,739,059 common shares outstanding on September 25, 2026.

Buyback starts October 8

The issuer bid takes effect on October 8, 2026, and can run until October 7, 2027. National Bank Financial Inc. will act as the designated broker, while purchased shares will be canceled, according to FT.

The size is smaller than the previous authorization of 14,500,000 shares. During that earlier program, National Bank repurchased 12,816,132 shares for CAD 2.4 billion at an average price of CAD 187.26, figures reported by FT.

Market value and earnings date

NA.TO was at CAD 203.76 at 11:28 a.m. ET on October 6, 2026, up 0.55 percent from the CAD 202.65 prior close. The stock's 52-week range was CAD 148.87 to CAD 237.13, and its market capitalization was CAD 78.5 billion on the same date.

The latest quarterly financial data show CAD 8.451 billion in revenue and CAD 1.307 billion in net income for the third quarter of fiscal 2026, compared with CAD 8.067 billion and CAD 1.234 billion in the second quarter. The next quarterly earnings release and conference call is scheduled for December 4, 2026, according to National Bank of Canada.

Capital returns remain central

The new authorization gives the bank another capital-management route alongside its dividend program. Its maximum size is 2.60 percent of shares outstanding, while the prior program repurchased 3.35 percent of the 381,739,059-share base, making the latest authorization more limited in scale.

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