BMO Financial Group Announces Intention to Repurchase Up to 25 Million of its Common Shares
Rhea-AI Summary
Bank of Montreal (TSX: BMO, NYSE: BMO) announced its intention to launch a new normal course issuer bid to repurchase for cancellation up to 25 million common shares, subject to approvals from OSFI and the TSX.
The proposed bid would run from on or around September 8, 2026 to September 7, 2027, unless terminated earlier, and covers about 3.6% of BMO’s public float as of July 31, 2026. Purchases may be made through the TSX, other designated exchanges, alternative Canadian trading systems, or other permitted means, generally at market price, with exemptions allowing discounted private or block purchases. BMO said the program is intended to provide additional flexibility in managing its capital position. As of July 31, 2026, BMO had 697,146,398 common shares issued and outstanding and a public float of 696,863,163 common shares. The current normal course issuer bid remains in effect until September 4, 2026.
Positive
- Up to 25 million shares (about 3.6% of public float) intended for repurchase
- Repurchase window from September 8, 2026 to September 7, 2027 adds capital management flexibility
- Program targets cancellation of repurchased shares, potentially reducing shares outstanding over time
Negative
- None.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Aug 10 | Leveraged ETN launch | Positive | +0.2% | BMO and REX Shares launched four leveraged corporate bond ETNs. |
| Aug 03 | Leveraged ETN launch | Positive | +0.0% | BMO and REX Shares launched leveraged semiconductor long and short ETNs. |
| Jun 29 | Acquisition agreement | Positive | +0.3% | BMO agreed to acquire Euroz Hartleys' Australian capital markets business. |
| Jun 23 | Commercial banking recognition | Positive | +0.1% | BMO received commercial banking recognition in Canada and the United States. |
| Jun 18 | Banking awards | Positive | +1.4% | BMO received multiple North American and transaction banking awards. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
BMO's five recent news events all preceded positive 24-hour price reactions, ranging from 0.04% to 1.38%.
Key Terms
normal course issuer bid financial
public float financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Bank of Montreal (the Bank) intends to file a notice of intention with the TSX in this regard and, subject to regulatory approvals, the bid would commence on or around September 8, 2026, and will end September 7, 2027, unless terminated earlier in accordance with its terms. The common shares that may be repurchased represent approximately
There were 697,146,398 Bank of Montreal common shares issued and outstanding as of July 31, 2026, and the public float was 696,863,163 common shares.
The proposed normal course issuer bid will provide the Bank with additional flexibility to manage its capital position.
Bank of Montreal's common shares are listed on both the
The Bank's current normal course issuer bid commenced on September 5, 2025 and continues until September 4, 2026.
Caution Regarding Forward-Looking Statements
Bank of Montreal's public communications often include written or oral forward-looking statements. Statements of this type are included in this press release and may be included in other filings with Canadian securities regulators or the U.S. Securities and Exchange Commission, or in other communications. All such statements are made pursuant to the "safe harbor" provisions of, and are intended to be forward-looking statements under, the United States Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. Forward-looking statements in this press release may include, but are not limited to, statements with respect to BMO's intention to repurchase common shares under a normal course issuer bid. Forward-looking statements are typically identified by words such as "will", "would", "should", "believe", "expect", "anticipate", "project", "intend", "estimate", "plan", "goal", "commit", "target", "may", "might", "schedule", "forecast", "outlook", "timeline", "suggest", "seek" and "could" or negative or grammatical variations thereof.
By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, both general and specific in nature. There is significant risk that predictions, forecasts, conclusions or projections will not prove to be accurate, that our assumptions may not be correct, and that actual results may differ materially from such predictions, forecasts, conclusions or projections. We caution readers of this press release not to place undue reliance on our forward-looking statements, as a number of factors – many of which are beyond our control and the effects of which can be difficult to predict – could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including, but not limited to: general economic and market conditions in the countries in which we operate, including labour challenges and changes in foreign exchange and interest rates; political conditions, including changes relating to, or affecting, economic or trade matters, including tariffs, countermeasures and tariff mitigation policies; changes to our credit ratings; cyber and information security, including the threat of data breaches, hacking, identity theft and corporate espionage, as well as the possibility of denial of service resulting from efforts targeted at causing system failure and service disruption; technology resilience, innovation and competition; technological change, including the use of data and artificial intelligence (AI) in our business, including generative AI; failure of third parties to comply with their obligations to us; disruptions of global supply chains; environmental and social risk, including climate change; the Canadian housing market and consumer leverage; inflationary pressures; changes in laws, including tax legislation and interpretation, or in supervisory expectations or requirements, including capital, interest rate and liquidity requirements and guidance, including if the bank were designated a global systemically important bank, and the effect of such changes on funding costs, liquidity and capital requirements; changes in monetary, fiscal or economic policy; weak, volatile or illiquid capital or credit markets; the level of competition in the geographic and business areas in which we operate; exposure to, and the resolution of, significant litigation or regulatory matters, our ability to successfully appeal adverse outcomes of such matters and the timing, determination and recovery of amounts related to such matters; the accuracy and completeness of the information we obtain with respect to our customers and counterparties; our ability to successfully execute our strategic plans, complete acquisitions or dispositions and integrate acquisitions, including obtaining regulatory approvals, and realize any anticipated benefits from such plans and transactions; critical accounting estimates and judgments, and the effects of changes in accounting standards, rules and interpretations on these estimates; operational and infrastructure risks, including with respect to reliance on third parties; global capital markets activities; the emergence or continuation of widespread health emergencies or pandemics, and their impact on local, national or international economies, as well as their heightening of certain risks that may affect our future results; the possible effects on our business of war or terrorist activities; natural disasters, such as earthquakes or flooding, and disruptions to public infrastructure, such as transportation, communications, power or water supply; and our ability to anticipate and effectively manage risks arising from all of the foregoing factors.
We caution that the foregoing list is not exhaustive of all possible factors. Other factors and risks could adversely affect our results. For further information, please refer to the discussion in the Risks That May Affect Future Results section, and the sections related to credit and counterparty, market, liquidity and funding, operational non-financial, legal and regulatory compliance, strategic, environmental and social, and reputation risk in the Enterprise-Wide Risk Management section of BMO's 2025 Annual Report, and the Risk Management section in our Third Quarter 2026 Report to Shareholders, all of which outline certain key factors and risks that may affect our future results. Investors and others should carefully consider these factors and risks, as well as other uncertainties and potential events, and the inherent uncertainty of forward-looking statements. We do not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by the organization or on its behalf, except as required by law. The forward-looking information contained in this press release is presented for the purpose of assisting shareholders and analysts in understanding our financial position as at and for the periods ended on the dates presented, as well as our strategic priorities and objectives, and may not be appropriate for other purposes.
Material economic assumptions underlying the forward-looking statements contained in this press release include those set out in the Economic Developments and Outlook section of BMO's 2025 Annual Report, as updated in the Economic Developments and Outlook section and the Risk Management – Geopolitical and Trade Developments section in our Third Quarter 2026 Report to Shareholders, as well as in the Allowance for Credit Losses section of BMO's 2025 Annual Report, as updated in the Allowance for Credit Losses section in our Third Quarter 2026 Report to Shareholders. Assumptions about the performance of the Canadian and U.S. economies, as well as overall market conditions and their combined effect on our business, are material factors we consider when determining our strategic priorities, objectives and expectations for our business. In determining our expectations for economic growth, we primarily consider historical economic data, past relationships between economic and financial variables, changes in government policies, and the risks to the domestic and global economy.
For News Media Enquiries:
John Fenton, Toronto, John.Fenton@bmo.com, (416) 867-3996
For Investor Relations Enquiries:
Christine Viau, Toronto, Christine.Viau@bmo.com, (416) 867-6956; Bill Anderson, Toronto, Bill2.Anderson@bmo.com, (416) 867-7834
Internet: www.bmo.com X: @BMOmedia
About BMO Financial Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of
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SOURCE BMO Financial Group