Canadian Tire Corporation, Limited (CTC), the parent of the SportChek, Sports Experts, Atmosphere, Pro Hockey Life, Sports Rousseau, Hockey Experts, and Mark’s retail banners, among others, is reporting that the Toronto Stock Exchange (TSX) has approved the company’s Notice of Intention to renew its normal course issuer bid (NCIB) for its Class A Non-Voting Shares (Shares).

Under the NCIB approved by the TSX, the company may repurchase up to 4,700,000 shares between March 11, 2026, and March 10, 2027 (2026/27 NCIB), representing approximately 10 percent of the 47,075,805 public float of shares issued and outstanding as at February 26, 2026. There were 49,283,531 total shares issued and outstanding as at February 26, 2026.

The company said it intends to repurchase shares under the 2026/27 NCIB to implement its share repurchase intentions and to offset the dilutive effect of share issuances pursuant to its Dividend Reinvestment and Stock Option Plans, consistent with the company’s policy.

Repurchases of shares pursuant to the 2026/27 NCIB will be made by means of open market transactions through the TSX and/or alternative Canadian trading systems, if eligible, at the market price of the shares at the time of repurchase or as otherwise permitted under the rules of the TSX and applicable securities laws. Repurchases may also be made as otherwise permitted under applicable law, including through private agreements or share repurchase programs under issuer bid exemption orders issued by securities regulatory authorities. Any private repurchase made under an exemption order issued by a securities regulatory authority will generally be at a discount to the prevailing market price.

Under the rules of the TSX, during the six months ended February 28, 2026, the average daily trading volume of the shares on the TSX, net of repurchases made by the company through the TSX, was 259,059, and, accordingly, daily repurchases on the TSX pursuant to the NCIB will be limited to 64,764 Shares, other than repurchases made pursuant to the block purchase exception. The shares repurchased by the company pursuant to the 2026/27 NCIB will be restored to the status of authorized but unissued shares.

The actual number of shares that may be repurchased pursuant to the 2026/27 NCIB and the timing of such repurchases will be determined by the company’s management, subject to applicable law and the rules of the TSX.

Under the company’s normal course issuer bid, which began on March 11, 2025, and expires on March 10, 2026 (2025/26 NCIB), the company received approval to repurchase up to 4,900,000 shares. As at February 28, 2026, the company repurchased 3,074,096 shares through open-market transactions on the TSX and other Canadian trading systems under the 2025/26 NCIB, at a volume-weighted average price of $166.43 per share.

The company will also enter an automatic securities purchase plan (ASPP) with a designated broker to facilitate repurchases of shares under its 2026/27 NCIB at times when the company would ordinarily not be permitted to repurchase its securities due to regulatory restrictions and customary self-imposed blackout periods. Repurchases made pursuant to the ASPP will be made by the company’s designated broker, in accordance with the parameters prescribed by the TSX, applicable Canadian securities laws, and the terms of the written agreement between the company and its designated broker. The ASPP has been approved by the TSX and will be entered into on or about March 11, 2026, and terminate on the earliest of the date on which: (1) the repurchase limit under the 2026/27 NCIB has been reached, (2) the 2026/27 NCIB expires, and (3) the company terminates the ASPP in accordance with its terms. The ASPP constitutes an “automatic securities purchase plan” under applicable Canadian securities laws. 

Image courtesy SportChek/Canadian Tire Corporation, Limited