TRI:CC - Thomson Reuters gains TSX approval for annual renewal of NCIB; announces $2B stock buyback plan

Thomson Reuters (NYSE:TRI) has received TSX approval for the annual renewal of its normal course issuer bid (NCIB). The business information services company plans to buyback US$2B of its shares under the new NCIB; up to 24M common shares (~5% of the company's issued and outstanding common shares) may be repurchased between June 13, 2022 and June 12, 2023. Under its previous NCIB that expired on Jan. 03, 2022, Thomson Reuters (TRI) was authorized to repurchase up to 20M common shares. Of this amount, it repurchased 12.79M common shares for a total cost of ~US$1.4B, representing an average price of US$109.42/share.

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Thomson Reuters gains TSX approval for annual renewal of NCIB; announces $2B stock buyback plan