Royal Bank of Canada to repurchase up to 45 million of its common shares

Royal Bank of Canada (TSX: RY, NYSE: RY) announced on May 28, 2026, its intention to repurchase up to 45 million of its common shares through a normal course issuer bid, subject to approval from the Toronto Stock Exchange (TSX) and the Office of the Superintendent of Financial Institutions (OSFI). The program, if approved, will allow the bank to begin purchases on June 12, 2026, continuing until June 11, 2027, or earlier if the bank completes its purchases. Shares will be bought at the prevailing market price through the TSX, New York Stock Exchange, and other designated trading systems. The repurchase target represents about 3.24% of the bank’s outstanding common shares, which totaled 1,389,691,690 as of May 15, 2026. The bank stated that the program will provide flexibility in managing its capital position while generating shareholder value. As of April 30, 2026, the bank reported Common Equity Tier 1, Tier 1, and Total capital ratios of 13.5%, 15.0%, and 16.9%, respectively. The repurchase plan is designed to be responsive to market conditions and capital adequacy, with the bank reserving discretion over timing and volume. Regulatory approvals are required before purchases can commence, and the bank emphasized that the program aligns with its broader strategy to optimize capital structure. The announcement includes forward-looking statements regarding the bank’s plans, expectations, and estimates related to the issuer bid. These statements are subject to risks and uncertainties, including market fluctuations and regulatory changes, which could impact the bank’s ability to execute the program as outlined.