FirstService Announces Normal Course Issuer Bid
Rhea-AI Summary
FirstService (TSX/NASDAQ: FSV) received TSX acceptance for a new normal course issuer bid (NCIB) allowing repurchases of up to 3,930,112 common shares, equal to 10% of the public float as of August 12, 2026, during the period from August 26, 2026 to no later than August 25, 2027. Purchases may be made on the TSX, alternative Canadian trading systems and NASDAQ at prevailing market prices, with NASDAQ purchases capped at 5% of outstanding shares during the 12‑month period.
The average daily trading volume on the TSX was 131,849 shares, limiting routine daily NCIB purchases there to 32,962 shares, excluding blocks. All repurchased shares will be cancelled. As of August 12, 2026, FirstService had 43,669,770 shares outstanding and a public float of 39,301,122 shares. The company also entered into an automatic share purchase plan effective August 26, 2026, to enable repurchases during blackout periods. Under the prior NCIB, FirstService bought 2,311,991 shares for cancellation at a weighted average price of US$136.87.
Positive
- New NCIB up to 3,930,112 shares (10% of public float) from August 26, 2026 to August 25, 2027
- All repurchased shares under the NCIB will be cancelled, reducing shares outstanding
- Automatic share purchase plan effective August 26, 2026 enables buys during blackout periods
- Prior NCIB execution: 2,311,991 shares repurchased at US$136.87 average price as of August 12, 2026
Negative
- None.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Aug 13 | Residential expansion | Positive | -0.9% | Selected to manage The Sonata Condominium in Washington, DC |
| Aug 12 | Residential expansion | Positive | -1.0% | Selected to manage Sea Colony East Phase III Condominium |
| Aug 11 | Residential expansion | Positive | +0.4% | Selected to manage Fleet Street Condominiums in National Harbor |
| Aug 05 | Operating report | Neutral | -1.3% | Released high-rise operating cost and budget trend report |
| Aug 05 | Residential expansion | Positive | +2.3% | Selected to manage The Cricket Club Condominium in North Miami |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent positive or informational company announcements produced mixed outcomes, with three of five selected events followed by negative 24-hour price reactions.
Key Terms
normal course issuer bid financial
public float financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
TORONTO, Aug. 20, 2026 (GLOBE NEWSWIRE) -- FirstService Corporation (TSX and NASDAQ: FSV) (“FirstService”) announced today that the Toronto Stock Exchange (the “TSX”) has accepted a notice filed by FirstService of its intention to make a normal course issuer bid (the “NCIB”) with respect to its outstanding common shares.
The notice provides that FirstService may, during the 12 month period commencing August 26, 2026 and ending no later than August 25, 2027, purchase through the facilities of the TSX, alternative Canadian Trading Systems and/or The NASDAQ Stock Market (“NASDAQ”) up to 3,930,112 common shares in total, being
As of August 12, 2026, there were 43,669,770 common shares of FirstService outstanding, and the public float was 39,301,122 common shares.
FirstService believes that its common shares may from time to time trade in a price range that does not adequately reflect the value of such shares in relation to the business of FirstService and its future business prospects. FirstService may purchase its common shares under the NCIB, from time to time, if it believes that the market price of its common shares is attractive and that the purchase would be an appropriate use of corporate funds and in the best interests of FirstService. FirstService may also purchase its common shares under the NCIB in order to mitigate the dilutive effect of stock options issued under its stock option plan.
In connection with the NCIB becoming effective, FirstService has entered into an automatic share purchase plan (“ASPP”) with a designated broker to facilitate the purchase of common shares under the NCIB, including at times when FirstService would ordinarily not be permitted to purchase its common shares due to regulatory restrictions or self-imposed blackout periods. Purchases made pursuant to the ASPP, if any, will be made by the designated broker based upon the parameters prescribed by the TSX, NASDAQ, applicable Canadian and U.S. securities laws and the terms of the written agreement between FirstService and its designated broker. The ASPP constitutes an “automatic plan" for purposes of applicable Canadian securities legislation and has been pre-cleared by the TSX and will become effective on August 26, 2026, concurrently with the NCIB becoming effective, and will terminate when the NCIB ends. All purchases made under the ASPP will be included in computing the number of common shares purchased under the NCIB.
Pursuant to a previous notice of intention to conduct a NCIB, as amended, under which FirstService sought and received approval from the TSX to purchase up to 4,118,199 common shares for the period of August 26, 2025 to August 25, 2026, FirstService has purchased for cancellation, as of August 12, 2026, a total of 2,311,991 common shares at a weighted average share price of US
About FirstService Corporation
FirstService Corporation is a North American leader in the property services sector, serving its customers through two industry-leading service platforms: FirstService Residential, North America’s largest manager of residential communities; and FirstService Brands, one of North America’s largest providers of essential property services delivered through individually branded company-owned operations and franchised systems.
FirstService generates more than
For the latest news from FirstService Corporation, visit www.firstservice.com
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements” within the meaning of applicable securities legislation, including, but not limited to, statements relating to future purchases of common shares under the NCIB, including pursuant to the ASPP. Much of this information can be identified by words such as “expect to,” “expected,” “will,” “estimated” or similar expressions suggesting future outcomes or events. FirstService believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.
Forward-looking statements are based on current information and expectations that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those anticipated. These risks include, but are not limited to, risks associated with FirstService’s financial condition and prospects; the stability of general economic and market conditions; currency exchange rates and interest rates; the availability of cash for repurchases of outstanding common shares under the NCIB; the existence of alternative uses for FirstService’s cash resources which may be superior to effecting repurchases under the NCIB; compliance by third parties with their contractual obligations; compliance with applicable laws and regulations pertaining to the NCIB and ASPP; and other risks related to FirstService’s business, including those identified in FirstService’s annual information form for the year ended December 31, 2025 under the heading “Risk factors” (a copy of which may be obtained at www.sedarplus.ca) and Annual Report on Form 40-F filed with the United States Securities and Exchange Commission (a copy of which may be obtained at www.sec.gov), and subsequent filings. Forward-looking statements contained in this press release are made as of the date hereof and are subject to change. All forward-looking statements in this press release are qualified by these cautionary statements. Unless otherwise required by applicable securities laws, we do not intend, nor do we undertake any obligation, to update or revise any forward-looking statements contained in this press release to reflect subsequent information, events, results or circumstances or otherwise.
COMPANY CONTACTS:
D. Scott Patterson
Chief Executive Officer
(416) 960-9566
Jeremy Rakusin
Chief Financial Officer
(416) 960-9566
