Key facts
- Thomson Reuters may buy back up to 7 million common shares, about 1.6% of its issued and outstanding shares.
- The buyback runs from November 13, 2026 to November 12, 2027 under a TSX-approved normal course issuer bid.
- Woodbridge, which owns about 70% of Thomson Reuters, plans to participate proportionally to maintain its stake.
- Thomson Reuters's Canadian shares have declined about 15% so far this year, Reuters reported.
Thomson Reuters plans to buy back up to $500 million of its shares, the content and technology company said on Wednesday, as concerns about rising AI costs weigh on its stock price.
Under the plan, Thomson Reuters may buy up to 7 million common shares, or about 1.6% of its issued and outstanding shares, between November 13, 2026, and November 13, 2027, according to a company press release. The release states the company had 433,458,865 issued and outstanding common shares as of October 31, 2026, and that purchases will occur under a new normal course issuer bid approved by the Toronto Stock Exchange.
Thomson Reuters said its controlling investor Woodbridge, which owns about 70% of the company, plans to participate proportionally in the buyback to maintain its stake. The press release says Woodbridge's ownership has increased from approximately 62% over the last decade, primarily due to the company's share repurchase activity, and that both parties believe maintaining a healthy float is in the best interest of all shareholders.
The company reported higher quarterly revenue earlier in November, but its shares fell on what some investors said were concerns over the impact on profit of higher AI spending. Wall Street has punished stocks from software firms to Alphabet and Amazon this earnings season on fears that the mounting bill will eat into corporate profits, Reuters reported. Thomson Reuters's Canadian shares have declined about 15% so far this year.
Thomson Reuters is the parent company of Reuters News.