Manulife has secured approval from the Toronto Stock Exchange for a normal course issuer bid, allowing the insurance company to buy back and cancel up to 42 million of its common shares. Outside Canada and the U.S., Manulife said it may undertake similar buybacks in other markets where it is listed, such as the Philippine Stock Exchange, in compliance with local regulations.
The program enables Manulife to buy up to 1.48 million shares per trading day on the TSX, roughly 25 percent of the six-month average daily trading volume of 5.93 million shares. Purchases will start February 24, 2026, and may continue until February 23, 2027, or until the company completes the maximum repurchase.
All shares acquired will be canceled, reducing total share count and potentially enhancing shareholder value.
The NCIB is part of Manulife’s capital management strategy to balance regulatory capital requirements with returning cash to investors. The company may acquire shares through the TSX, New York Stock Exchange, alternative trading systems, or private arrangements, subject to regulatory approval.
Private purchases may be priced at a discount to the prevailing market. Derivative-based programs, including accelerated share purchase agreements or forward purchases, are also possible.
Manulife has implemented an automatic share purchase plan, enabling its designated broker to execute purchases even during trading blackouts or insider restriction periods.
Timing, number, and price of shares purchased under the plan will depend on market conditions.
The NCIB highlights Manulife’s commitment to disciplined capital management, flexibility in returning excess cash to shareholders, and efforts to support its stock performance while maintaining healthy regulatory capital ratios.
