Monitor Scotiabank's quarterly disclosures for actual repurchase execution and impact on book value per share. The increased authorization signals management's view that shares are undervalued, but no earnings or guidance data accompanies this filing.
Price Chart
Executive Summary
Scotiabank announced regulatory approval to increase its normal course issuer bid from 15 million to 40 million common shares, representing approximately 3.25% of shares outstanding. The amendment, effective October 6, 2026, allows the bank to repurchase up to an additional ~27 million shares for cancellation through April 6, 2027. This is a routine capital management action with no new financial data or earnings implications.
Key Facts
- TSX and OSFI approved amendment increasing NCIB from 15M to 40M common shares
- 40M shares represent ~3.25% of 1,231,433,660 shares outstanding as of March 24, 2026
- As of August 31, 2026, Scotiabank had purchased 13,044,315 shares under the current NCIB
- Effective date of amendment is October 6, 2026; NCIB runs until earlier of completion, termination, or April 6, 2027
- Daily purchase limit on TSX is 1,114,002 shares based on 6-month average daily volume of 4,456,008 shares
- Automatic repurchase plan with Scotia Capital Inc. will be amended to reflect the increased maximum
Financial Impact
No financial figures provided; the increased authorization allows up to ~27M additional shares to be repurchased at market prices over ~6 months
Risk Factors
- Actual repurchases depend on market conditions and regulatory constraints
- No financial performance data provided to assess fundamental justification for buyback
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001279569-26-000945 |
| Document: scotiabank6k.htm | 0001279569-26-000945 |
| Document: 0001279569-26-000945-index-headers.html | 0001279569-26-000945 |
| Document: 0001279569-26-000945-index.html | 0001279569-26-000945 |
| Document: 0001279569-26-000945.txt | 0001279569-26-000945 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 6d ago | 6-K | $94.00 $93.41 | ▼ −0.63% | ▲ +0.55% | $93.85 (−0.16%) |
Oct 16, 2026 11d ago | 6-K | $91.60 $91.14 | ▼ −0.50% | ▼ −0.93% | $93.85 (+2.46%) |
Oct 2, 2026 25d ago | 6-K | $91.19 $90.28 | ▼ −1.00% | ▼ −1.67% | $93.85 (+2.92%) |
Oct 2, 2026 25d ago | EFFECT | $91.19 $90.28 | ▼ −1.00% | ▼ −1.67% | $93.85 (+2.92%) |
Oct 1, 2026 26d ago | 6-K | $90.67 $91.19 | ▲ +0.57% | ▼ −0.17% | $93.85 (+3.51%) |
Oct 1, 2026 26d ago | 6-K | $90.67 $91.19 | ▲ +0.57% | ▼ −0.17% | $93.85 (+3.51%) |
Aug 25, 2026 9w ago | 6-K | $93.10 $93.59 | ▲ +0.53% | ▲ +0.50% | $93.85 (+0.81%) |
Aug 25, 2026 9w ago | 6-K | $93.10 $93.59 | ▲ +0.53% | ▲ +0.50% | $93.85 (+0.81%) |
Aug 25, 2026 9w ago | 6-K | $93.10 $93.59 | ▲ +0.53% | ▲ +0.50% | $93.85 (+0.81%) |
Aug 25, 2026 9w ago | 6-K | $93.10 $93.59 | ▲ +0.53% | ▲ +0.50% | $93.85 (+0.81%) |
US Market Status
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