Thomson Reuters Announces Annual Renewal of Normal Course Issuer Bid
TORONTO, Aug. 14, 2019 /PRNewswire/ -- Thomson Reuters Corporation (TSX / NYSE: TRI) today announced that it has received approval from the Toronto Stock Exchange (TSX) for the annual renewal of its normal course issuer bid (NCIB). Under the renewed NCIB, up to 25 million common shares (representing approximately 5% of the company's total outstanding shares) may be repurchased between August 19, 2019 and August 18, 2020. For its NCIB that began on May 30, 2018 and expired on May 29, 2019, Thomson Reuters previously received approval from the TSX to repurchase up to 32,230,450 common shares (which reflects the company's share consolidation in November 2018). Of this amount, Thomson Reuters repurchased approximately 24.9 million common shares for a total cost of approximately US$1.22 billion, representing an average price of US$49.24 per share. From time to time, when Thomson Reuters does not possess material nonpublic information about itself or its securities, it may enter into a pre-defined plan with its broker to allow for the repurchase of shares at times when Thomson Reuters ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise.