Magna Announces Renewal of Normal Course Issuer Bid
The renewed authorization follows full use of the prior 25,300,000-share buyback allowance.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Magna International (NYSE: MGA; TSX: MG) received TSX acceptance to renew its share buyback program for up to 25,778,000 common shares. The authorization represents approximately 10% of its public float and runs from November 9, 2026, through no later than November 8, 2027. Purchases are discretionary and may fund cancellations or stock-based compensation programs.
Under the expiring program, Magna purchased all 25,300,000 authorized shares by October 30, 2026, at weighted average prices of C$86.13 and US$62.10. It cancelled 25,044,933 shares and used the remainder for compensation programs. Magna also entered into an automatic purchase plan, effective at the new program’s start, allowing broker purchases within specified parameters during restricted or blackout periods.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate point. Forward-looking: it has not happened yet and may not happen.Renewed buyback authorizes discretionary purchases of up to 25,778,000 shares, approximately 10% of public float.
- Moderate pointPrior buyback purchased 25,300,000 shares at weighted average prices of C$86.13 and US$62.10 by October 30, 2026.
- Minor pointPrior repurchases resulted in 25,044,933 shares cancelled; remaining shares funded stock-based compensation programs.
- Minor point. Forward-looking: it has not happened yet and may not happen.Automatic purchase plan enables purchases within specified parameters during regulatory restrictions or self-imposed blackout periods.
Negative
- None.
Key Figures
- Maximum repurchase authorization
- 25,778,000 shares
- Renewed normal course issuer bid
- Share of public float
- ≈10%
- Maximum authorization relative to public float
- NCIB term
- Nov 9, 2026–Nov 8, 2027
- Commencement and latest termination date
- Maximum daily TSX purchases
- 279,091 shares
- Subject to block-purchase exceptions
- Prior bid purchases
- 25,300,000 shares
- All shares under the current bid had been purchased by Oct 30, 2026
- Prior bid shares cancelled
- 25,044,933 shares
- Of the shares repurchased under the expiring bid
Historical Context
-
The board approved a new authorization for up to approximately 25.8 million shares, pending TSX approval.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
normal course issuer bid financial
rule 10b-18 regulatory
alternative trading systems financial
public float financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
- NCIB authorizes the discretionary repurchase of up to 25,778,000 Magna Common Shares, representing approximately
10% of Magna’s public float - NCIB takes effect on November 9, 2026, and terminates no later than November 8, 2027
AURORA, Ontario, Nov. 05, 2026 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) announces today the Toronto Stock Exchange’s (the "TSX") acceptance of its notice of intention to renew its normal course issuer bid (the "Notice"). Pursuant to the Notice, Magna may purchase up to 25,778,000 Magna Common Shares (the "NCIB"), representing approximately
The primary purposes of the NCIB are to facilitate purchases for cancellation, as well as purchases to fund Magna’s stock-based compensation awards and programs. Magna may purchase its Common Shares for cancellation, 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 the Corporation. Magna may elect to modify, suspend or discontinue the NCIB, and purchases thereunder, at any time.
The NCIB will commence on November 9, 2026, and will terminate no later than November 8, 2027. All purchases of Common Shares under the NCIB may be made on the TSX, at the market price at the time of purchase in accordance with the rules and policies of the TSX, or on the New York Stock Exchange ("NYSE") in compliance with Rule 10b-18 under the U.S. Securities Exchange Act of 1934. In addition to purchases made on the open market through the facilities of the TSX and NYSE, Magna may also make purchases through alternative trading systems in Canada and the United States, and by private agreement or under a specific share repurchase program pursuant to an issuer bid exemption order issued by a securities regulatory authority (a "Specific Share Repurchase Program"). Purchases made by way of such private agreements or a Specific Share Repurchase Program may be at a discount to the prevailing market price.
The rules and policies of the TSX contain restrictions on the number of shares that can be purchased under the NCIB, based on the average daily trading volumes of the Common Shares on the TSX. Similarly, the safe harbor conditions of Rule 10b-18 impose certain limitations on the number of shares that can be purchased on the NYSE per day. As a result of such restrictions, subject to certain exceptions for block purchases, the maximum number of Common Shares which can be purchased per day during the NCIB on the TSX is 279,091, based on
Expiring Bid
Magna’s current normal course issuer bid, announced in November of 2025, for the purchase of up to 25,300,000 Common Shares will expire at the close of trading on November 6, 2026. As at the close of trading on October 30, 2026, Magna had purchased all 25,300,000 Common Shares under the current normal course issuer bid at weighted average prices of C
Agreement to Establish an Automatic Purchase Plan
Effective as of the start of the NCIB, Magna today announces that it has also entered into an agreement establishing an automatic share purchase plan (the "Automatic Purchase Plan") with a designated broker to facilitate the purchase of Common Shares under the NCIB. Under the Automatic Purchase Plan, Magna may, from time to time, provide instructions and strict parameters regarding how its Common Shares can be purchased during times when it would ordinarily not be permitted to purchase Common Shares due to regulatory restrictions or self-imposed blackout periods. The Automatic Purchase Plan terminates on the earliest date on which: (a) the purchase limit specified in the Automatic Purchase Plan has been reached; (b) Magna terminates the Automatic Purchase Plan in accordance with its terms, in which case Magna will issue a press release confirming such termination; and (c) the NCIB terminates.
INVESTOR CONTACT
Louis Tonelli, Vice President, Investor Relations
louis.tonelli@magna.com │ 905.726.7035
MEDIA CONTACT
Tracy Fuerst, Vice President, Corporate Communications & PR
tracy.fuerst@magna.com │ 248.761.7004
ABOUT MAGNA
Magna is one of the world’s largest automotive suppliers and a trusted partner to automakers in the industry’s most critical markets globally. With operations in 27 countries, we combine global scale with trusted reliability and proven execution. Backed by nearly seven decades of experience, we bring together deep manufacturing expertise with innovative vehicle systems to deliver performance, safety, and quality.
For further information about Magna (NYSE:MGA; TSX:MG), please visit www.magna.com or follow us on social.
FORWARD-LOOKING STATEMENTS
This press release contains statements that are not recitations of historical fact and constitute "forward-looking statements" within the meaning of applicable securities legislation, including, but not limited to, Magna’s intention to commence the NCIB, the timing, methods and quantity of any purchases under the NCIB, the availability of cash for repurchases of Common Shares under the NCIB, and compliance with applicable laws and regulations pertaining to the NCIB. Forward-looking statements may include financial and other projections, as well as statements regarding our future plans, objectives or economic performance, or the assumptions underlying any of the foregoing. We use words such as "may", "would", "could", "should", "will", "likely", "expect", "anticipate", "believe", "intend", "plan", "forecast", "outlook", "project", "estimate" and similar expressions suggesting future outcomes or events to identify forward-looking statements. Any such forward-looking statements are based on information currently available to us, and are based on assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. However, whether actual results and developments will conform to our expectations and predictions is subject to a number of risks, assumptions and uncertainties, many of which are beyond our control, and the effects of which can be difficult to predict. These risks, assumptions and uncertainties include, without limitation, the impact of: macroeconomic and geopolitical events; economic cyclicality; relative foreign exchange rates; financial flexibility risks; stock price fluctuations; legal and regulatory proceedings against us; changes in laws and other factors set out in our Annual Information Form filed with securities commissions in Canada and our annual report on Form 40-F filed with the United States Securities and Exchange Commission, and subsequent filings. In evaluating forward-looking statements, we caution readers not to place undue reliance on any forward-looking statements and readers should specifically consider the various factors which could cause actual events or results to differ materially from those indicated by such forward-looking statements.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What daily purchase limits apply to Magna’s renewed buyback?
Subject to exceptions for block purchases, Magna may buy up to 279,091 shares per day on the TSX. That limit reflects 25% of its prior six-month average daily TSX trading volume. The NYSE daily limit is 25% of average daily trading volume for the four calendar weeks preceding the purchase date, also subject to block-purchase exceptions.