Scotiabank Announces Normal Course Issuer Bid for Up to 15 Million Common Shares

The Bank of Nova Scotia (Scotiabank) has received approval from the Toronto Stock Exchange (TSX) and the Office of the Superintendent of Financial Institutions (OSFI) to launch a normal course issuer bid to repurchase up to 15 million of its common shares. This represents approximately 1.2% of its issued and outstanding shares as of March 24, 2026. The new bid will commence on April 7, 2026, and terminate on April 6, 2027. Scotiabank intends to terminate its existing bid, under which it purchased 20 million shares, on April 6, 2026. The new bid will allow the bank flexibility in managing its capital, offsetting option dilution, and enhancing shareholder value. Purchases will be made on the open market and may include private agreements or share repurchase programs at a discount. Daily purchases will be limited, and repurchased shares will be cancelled. An automatic repurchase plan will be established to manage purchases within defined criteria. Scotiabank, with approximately $1.5 trillion in assets as of January 31, 2026, is a major North American bank.