CAE announces renewal of normal course issuer bid
Rhea-AI Summary
CAE (NYSE: CAE, TSX: CAE) received regulatory approval to renew its normal course issuer bid to repurchase, for cancellation, up to 16,073,033 shares (about 5% of outstanding) between June 10, 2026 and June 9, 2027.
The program will operate on TSX, NYSE and other permitted platforms, includes an automatic repurchase plan with TD Securities, and forms part of CAE's capital allocation strategy. All repurchased shares will be cancelled.
Positive
- Authorization to repurchase up to 16,073,033 shares, about 5% of float
- Buyback period from June 10, 2026 to June 9, 2027
- Average daily TSX volume 944,026 enables daily limit of 236,006 shares
- Automatic repurchase plan with TD allows NCIB during blackout periods
- Prior NCIB executed 565,259 shares for $20.0 million at $35.4418 VWAP
- Board states NCIB is part of capital allocation strategy to enhance shareholder value
Negative
- Prior NCIB approval was for 16,019,294 shares, but only 565,259 were repurchased
News Market Reaction – CAE
In the Jun 5 session, CAE gained 0.24%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 27 | Strategic partnership | Positive | +3.7% | Teaming agreement with Saab for GlobalEye-based AEW&C capability. |
| May 21 | Earnings and outlook | Negative | -14.0% | FY2026 results with weaker profitability and large transformation plan. |
| May 11 | Portfolio review | Neutral | -3.2% | Exploring strategic alternatives for Flightscape aviation software unit. |
| May 07 | Earnings advisory | Neutral | -0.1% | Notice of upcoming FY2026 results release and conference call. |
| Mar 16 | Leadership changes | Positive | +2.0% | Senior appointments to support growth and enterprise strategy. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent news has often seen price reactions align with the underlying tone, with notable downside after weaker earnings and upside on strategic partnerships.
Over the last few months, CAE has balanced strategic initiatives with operational challenges. A May 21, 2026 earnings release showing weaker profitability and a transformation plan coincided with a -14.03% move. Strategic portfolio work, including Flightscape alternatives on May 11, 2026, saw a modest decline. Partnership expansion with Saab on May 27, 2026 aligned with a 3.7% gain, while leadership changes in March coincided with a 1.97% rise. Today’s NCIB renewal fits into this broader capital allocation and transformation backdrop.
Key Terms
normal course issuer bid financial
automatic repurchase plan financial
automatic securities purchase plan financial
block purchases financial
volume-weighted average price financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
The maximum number of common shares that may be repurchased under the program represents approximately five percent (
Purchases under the NCIB will be made through the facilities of the Toronto Stock Exchange ("TSX") in accordance with the TSX's applicable policies or the facilities of the New York Stock Exchange ("NYSE") in compliance with applicable NYSE rules and policies and
TD Securities Inc. ("TD") has agreed to act as CAE's designated broker to make purchases of common shares pursuant to the NCIB. CAE has also entered into an automatic repurchase plan ("ARP") with TD allowing it to purchase common shares under the NCIB when CAE would ordinarily not be permitted to purchase shares due to regulatory restrictions and customary self-imposed black-out periods. Before entering a black-out period, CAE may, but is not required to, instruct TD to make purchases under the NCIB during such a period based on parameters set by CAE prior to the black-out period in accordance with the ARP, TSX rules and applicable securities laws. All purchases made under the ARP are included in computing the number of common shares purchased under the NCIB. The ARP has been pre-cleared by the TSX and will be implemented and effective June 10, 2026, and will terminate on the earliest of the date on which: (i) the NCIB expires; (ii) the repurchase limit on the NCIB has been reached; (iii) CAE terminates the ARP in accordance with its terms; and (iv) TD terminates the ARP in accordance with its terms. The ARP constitutes an "automatic securities purchase plan" under applicable Canadian securities laws. The price CAE will pay for any common shares will be the market price at the time of acquisition, plus brokerage fees.
During the period that the NCIB is outstanding, CAE does not intend to make purchases of its common shares other than by means of open market transactions or such other means as may be permitted or approved by any applicable securities regulator.
The average daily trading volume of CAE's common shares through the facilities of the TSX over the last six completed calendar months was 944,026 common shares ("ADTV"). Accordingly, under the TSX rules and policies, CAE will be entitled on any trading day to purchase up to
All common shares purchased pursuant to the NCIB will be cancelled.
Under the normal course issuer bid which began on June 10, 2025, and which will expire on June 9, 2026, CAE received approval from the TSX to purchase up to 16,019,294 common shares. As at May 29, 2026, CAE had purchased a total of 565,259 common shares thereunder at a volume-weighted average price of
The NCIB is being established as part of CAE's capital allocation strategy. The Board of Directors of CAE believes that any purchases made under the NCIB will be in the best interest of CAE and that such purchases will constitute a desirable use of funds that should enhance shareholder value.
Caution concerning forward-looking statements
This press release includes forward-looking statements, including in connection with CAE's NCIB, ARP and future purchases of common shares pursuant to the NCIB. Since forward-looking statements and information relate to future events or future performance and reflect current expectations or beliefs regarding future events, they are typically identified by words such as "anticipate", "believe", "could", "estimate", "expect", "intend", "likely", "may", "plan", "seek", "should", "will", "strategy", "future" or the negative thereof or other variations thereon suggesting future outcomes or statements regarding an outlook. All such statements constitute "forward-looking statements" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995.
By their nature, forward‑looking statements require us to make assumptions and are subject to inherent risks and uncertainties associated with our business which may cause actual results in future periods to differ materially from results indicated in forward‑looking statements. While these statements are based on management's expectations and assumptions regarding historical trends, current conditions and expected future developments, as well as other factors that we believe are reasonable and appropriate in the circumstances, readers are cautioned not to place undue reliance on these forward-looking statements as there is a risk that they may not be accurate. The forward-looking statements contained in this press release describe our expectations as of June 5, 2026, and, accordingly, are subject to change after such date. Important risks that could cause such differences include, but are not limited to, those described in CAE's Management's Discussion & Analysis for the year ended March 31, 2026.
Specifically, there can be no assurance as to how many shares, if any, will ultimately be acquired under CAE's NCIB. Except as required by law, we disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking information and statements contained in this press release are expressly qualified by this cautionary statement. In addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based on information available to us as of the date of this press release. While we believe that information provides a reasonable basis for these statements, that information may be limited or incomplete. Our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements.
Except as otherwise indicated by CAE, forward-looking statements do not reflect the potential impact of any special items or of any dispositions, monetizations, mergers, acquisitions, other business combinations or other transactions that may occur after June 5, 2026. The financial impact of these transactions and special items can be complex and depends on the facts particular to each of them. We therefore cannot describe the expected impact in a meaningful way or in the same way we present known risks affecting our business. Forward-looking statements are presented in this press release for the purpose of assisting investors and others in understanding certain key elements of CAE's NCIB. Readers are cautioned that such information may not be appropriate for other purposes.
About CAE
At CAE, we exist to make the world safer. We deliver cutting-edge training, simulation, and critical operations solutions to prepare aviation professionals and defence forces for the moments that matter. Every day, we empower pilots, cabin crew, maintenance technicians, airlines, business aviation operators, and defence and security personnel to perform at their best and when the stakes are the highest. Around the globe, we're everywhere customers need us to be with sites and training locations in over 40 countries. For nearly 80 years, CAE has been at the forefront of innovation, consistently seeking to set the standard by delivering excellence in high-fidelity flight simulators and training solutions, while embedding sustainability at the heart of everything we do. By harnessing technology and enhancing human performance, we strive to be the trusted partner in advancing safety and mission readiness—today and tomorrow.
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CAE Contacts:
Media Relations:
Samantha Golinski, Senior Vice President, Communications
+1-438-805-5856, samantha.golinski@cae.com
Investor Relations:
Andrew Arnovitz, Chief Strategy Officer
+1-514-734-5760, andrew.arnovitz@cae.com
View original content:https://www.prnewswire.com/news-releases/cae-announces-renewal-of-normal-course-issuer-bid-302792276.html
SOURCE CAE Inc.