Thomson Reuters (NASDAQ:TRI) shares edged higher in premarket trading on Wednesday after the company unveiled plans to repurchase up to $600 million of its stock alongside a $605 million capital return to shareholders.
The company said the share repurchases will be carried out under an amended normal course issuer bid authorized by the Toronto Stock Exchange, set to take effect on February 27. The revised program raises the repurchase limit by 6 million shares, allowing Thomson Reuters to buy back up to 16 million shares in total — roughly 3.55% of the company’s 450,687,724 outstanding shares as of August 12, 2025.
So far, Thomson Reuters has acquired 6,022,437 shares under the existing program for about $1.0 billion, at an average purchase price of $166.05 per share.
In addition, the company announced a capital return totaling $605 million, to be executed through a special cash distribution of approximately $1.36 per eligible share followed by a share consolidation. The distribution reflects proceeds generated from the company’s May 2024 sale of shares in London Stock Exchange Group.
The capital return is expected to be tax-free for Canadian shareholders. Non-Canadian investors, including those based in the United States, will have the option to opt out of the transaction. Shareholders choosing not to participate will retain their existing share count and will not receive the cash payment.
The proposed capital return and related share consolidation will be submitted for shareholder approval at a special meeting scheduled for April 28. Completion of the plan requires support from at least two-thirds of votes cast as well as approval from the Ontario Superior Court of Justice. Thomson Reuters’ board has unanimously recommended shareholders vote in favor of the proposal.
Subject to approvals, the company expects the transactions to close in early May.