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Vermilion Energy (VET) wins TSX nod for new buyback, sets Q2 call

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Vermilion Energy Inc. received Toronto Stock Exchange approval to renew its normal course issuer bid, allowing the company to repurchase up to 15,157,179 common shares, about 10% of its public float as of June 30, 2026, between July 12, 2026 and July 11, 2027. Daily purchases on the TSX are capped at 322,467 shares, and any shares bought will be cancelled. Vermilion also put an automatic purchase plan in place so buybacks can continue during blackout periods.

The company highlights a long record of capital returns, noting it has paid over $40 per share in dividends since 2003 and plans to return 40% of excess free cash flow in 2026, mainly via its base dividend and share repurchases. Under the prior buyback, Vermilion repurchased 1,749,691 shares at a weighted average price of $12.43 per share. Vermilion will release its second quarter 2026 results after markets close on July 29, 2026 and discuss them on a conference call and webcast on July 30, 2026.

Positive

  • Significant share repurchase capacity: TSX approval for a renewed normal course issuer bid allows Vermilion to buy back up to 15,157,179 shares, about 10% of its public float over 12 months.
  • Defined capital return framework: Management plans to return 40% of excess free cash flow to shareholders in 2026, primarily via its base dividend and share repurchases, reinforcing a shareholder-return focus.

Negative

  • None.

Insights

Vermilion expands its share repurchase capacity while reaffirming a sizable capital return framework.

Vermilion’s renewed normal course issuer bid authorizes repurchases of up to 15,157,179 shares, roughly 10% of its public float as of June 30, 2026. This is a meaningful capacity increase tool, even though actual buybacks will depend on market conditions and management’s discretion.

The company pairs this with a stated intention to return 40% of excess free cash flow in 2026, primarily through its base dividend and share repurchases. Management also emphasizes a history of over $40 per share in dividends since 2003, framing capital returns as a core part of its strategy.

Under the prior NCIB, Vermilion repurchased 1,749,691 shares at a weighted average price of $12.43 per share. Upcoming Q2 2026 results, to be released on July 29, 2026 with a call on July 30, 2026, may provide more detail on how actively the renewed program will be used.

NCIB capacity 15,157,179 shares Maximum common shares authorized for repurchase under renewed NCIB
Public float coverage 10% NCIB amount as share of public float as of June 30, 2026
Daily TSX limit 322,467 shares Maximum daily repurchases on TSX, 25% of average daily volume
Average TSX volume 1,289,870 shares Average daily trading volume over six months ended June 30, 2026
Shares outstanding 152,948,362 shares Common shares issued and outstanding as of June 30, 2026
Public float 151,571,790 shares Public float as of June 30, 2026
Prior NCIB repurchases 1,749,691 shares Shares repurchased under prior NCIB as of June 30, 2026
Prior NCIB average price $12.43 per share Weighted average repurchase price under prior NCIB, excluding fees
normal course issuer bid financial
"the TSX has approved the notice of Vermilion's intention to commence a normal course issuer bid"
A Normal Course Issuer Bid is when a company buys back its own shares from the stock market over time. This usually shows that the company believes its stock is undervalued and wants to support its price, which can be important for investors to watch.
public float financial
"representing approximately 10% of its public float as at June 30, 2026"
Public float is the total number of a company's shares that are available for trading by the general public. It excludes shares held by company insiders or large stakeholders who are unlikely to sell them easily. This figure helps investors understand how much of the company's stock is actively available, which can influence its liquidity and how easily its price might change.
automatic purchase plan financial
"Vermilion will enter an automatic purchase plan ("ASPP") with its designated broker"
An automatic purchase plan is a program that automatically uses money from your account at regular intervals to buy shares of a stock or mutual fund. It works like a subscription that turns spare cash into investments without you having to place each trade, which can smooth out the price you pay over time and reduce the risk of mistiming the market — useful for building a position steadily and lowering emotional decision-making.
excess free cash flow financial
"The Company anticipates returning 40% of excess free cash flow(1) to shareholders in 2026"
Excess free cash flow is the cash a company generates from its regular operations after paying all necessary expenses and investments, beyond the amount needed to keep the business running. Like the money left after paying bills and replacing worn-out appliances, this surplus matters to investors because it can be returned as dividends or share buybacks, used to pay down debt, or invested in growth — all actions that can increase shareholder value.
non-GAAP financial measures financial
"Free cash flow (FCF) and excess free cash flow (EFCF) are non-GAAP financial measures"
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
asset retirement obligations financial
"EFCF is calculated as FCF less payments on lease obligations and asset retirement obligations settled"
Asset retirement obligations are a company’s recorded promise to pay for dismantling, cleaning up, or restoring property when a long-lived asset is retired — for example decommissioning a plant or removing equipment. Companies estimate the future cleanup cost today and book it as a liability (and add the cost to the asset), so it affects the balance sheet, reported profits over time, and future cash needs; investors watch it like a planned bill that can reduce cash available for returns.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What did Vermilion Energy Inc. (VET) announce in its latest 6-K filing?
Vermilion announced TSX approval to renew its normal course issuer bid, authorizing repurchases of up to 15,157,179 common shares. It also confirmed dates for releasing Q2 2026 results and hosting a related conference call and webcast for investors.

How many Vermilion (VET) shares can be repurchased under the renewed issuer bid?
The renewed normal course issuer bid permits Vermilion to repurchase up to 15,157,179 common shares, representing about 10% of its public float as of June 30, 2026. Any shares repurchased under this program will be cancelled after purchase.

What is Vermilion Energy’s (VET) daily repurchase limit on the TSX?
On the TSX, Vermilion’s daily repurchase limit is 322,467 common shares, equal to 25% of its average daily trading volume of 1,289,870 shares over the six months ended June 30, 2026, except when making permitted weekly block purchases.

When will Vermilion (VET) report its Q2 2026 financial results and hold its call?
Vermilion plans to release its second quarter 2026 operating and condensed financial results on July 29, 2026, after market close. Management will discuss these results on a conference call and webcast on July 30, 2026, at 8:00 AM MT (10:00 AM ET).

How much capital does Vermilion (VET) plan to return to shareholders in 2026?
Vermilion expects to return 40% of excess free cash flow to shareholders in 2026. Management indicates this will occur primarily through the company’s base dividend and share repurchases executed under its normal course issuer bid program.

How active was Vermilion’s prior normal course issuer bid before renewal?
Under the prior program running from July 12, 2025 to July 11, 2026, Vermilion was allowed to repurchase up to 15,259,187 shares. By June 30, 2026, it had repurchased 1,749,691 shares at a weighted average price of $12.43 per share, excluding brokerage fees.

What is Vermilion Energy’s (VET) history of shareholder returns?
Vermilion reports paying over $40 per share in dividends since 2003, highlighting a long record of returning cash to shareholders. Along with dividends, the company has used normal course issuer bids since 2022 to repurchase shares when management views them as undervalued.

 

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

Pursuant to Rule 13a-16 or 15d-16

Under the Securities Exchange Act of 1934

 

For the month of July 2026

 

Commission File Number: 001-35829

 

Vermilion Energy Inc. 

 

(Exact name of registrant as specified in its charter)

 

 

3500, 520 – 3rd Avenue S.W., Calgary, Alberta T2P 0R3

 

 (Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F ☐ Form 40-F ☒

 

 

 

 
 

 

 

 

Exhibit
 
Exhibit   Description
     
99.1   News Release dated July 8, 2026 - Vermilion Energy Inc. Announces TSX Approval for Renewal of Normal Course Issuer Bid and Confirms Q2 2026 Release Date and Conference Call Details

 

 

 
 

 

 

 

 
 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.      

 

VERMILION ENERGY INC.

 

 

     
By:   /s/ Lars Glemser
Title:   Lars Glemser, VP and Chief Financial Officer


 Date: July 8, 2026

Exhibit 99.1 

 

Vermilion Energy Inc. Announces TSX Approval for Renewal of Normal Course Issuer Bid and Confirms Q2 2026 Release Date and Conference Call Details

CALGARY, AB, July 8, 2026 /CNW/ - Vermilion Energy Inc. ("Vermilion", "We", "Our", or the "Company") (TSX: VET) (NYSE: VET) is pleased to announce that the Toronto Stock Exchange ("TSX") has approved the notice of Vermilion's intention to commence a normal course issuer bid ("NCIB") through the facilities of the TSX, New York Stock Exchange and other alternative trading platforms in Canada and the United States.

The NCIB allows Vermilion to purchase up to 15,157,179 common shares, representing approximately 10% of its public float as at June 30, 2026, over a twelve-month period commencing on July 12, 2026. The NCIB will expire no later than July 11, 2027. The total number of common shares Vermilion is permitted to purchase on the TSX is subject to a daily purchase limit of 322,467 common shares, representing 25% of the average daily trading volume of 1,289,870 common shares on the TSX calculated for the six-month period ended June 30, 2026; however, Vermilion may make one block purchase per calendar week which exceeds the daily repurchase restrictions. As of the close of business on June 30, 2026, Vermilion had 152,948,362 common shares issued and outstanding and a public float of 151,571,790 common shares. Any common shares that are purchased under the NCIB will be cancelled upon their purchase by Vermilion.

In connection with the NCIB, Vermilion will enter an automatic purchase plan ("ASPP") with its designated broker to allow for purchases of its common shares during self-imposed blackout periods. Such purchases would be at the discretion of the broker based on parameters provided by the Company prior to any self-imposed blackout period or any period when it is in possession of material undisclosed information. The ASPP has been pre-cleared, as required by the TSX. Outside of these blackout periods, common shares may be purchased under the NCIB in accordance with Management's discretion.

Vermilion has a long history of returning capital to its shareholders as we have paid out over $40 per share in dividends since 2003 and have had an active NCIB since 2022. The Company anticipates returning 40% of excess free cash flow(1) to shareholders in 2026, primarily through the base dividend and share repurchases. Share repurchases continue to screen as one of the most compelling options for returning capital to shareholders as we believe our common shares are trading at a price that does not reflect the appropriate value of the company.

Under its prior NCIB, which runs from July 12, 2025, to July 11, 2026, the Company was allowed to purchase up to 15,259,187 common shares. As at June 30, 2026, Vermilion repurchased an aggregate of 1,749,691 common shares under its prior NCIB at a weighted average price of $12.43 per common share, excluding brokerage fees. The company purchased all common shares through the facilities of the TSX and alternative trading platforms in Canada and the United States.

Conference Call and Webcast Details

Vermilion will release its 2026 second quarter operating and condensed financial results on Wednesday, July 29, 2026, after the close of North American markets. The unaudited interim financial statements and management discussion and analysis for the three and six months ended June 30, 2026 will be available on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedarplus.ca, on EDGAR at www.sec.gov/edgar.shtml, and on Vermilion's website at www.vermilionenergy.com.

Vermilion will discuss these results in a conference call and webcast presentation on Thursday, July 30, 2026, at 8:00 AM MT (10:00 AM ET). To participate, call 1-888-510-2154 (Canada and US Toll Free) or 1-437-900-0527 (International and Toronto Area). A recording of the conference call will be available for replay by calling 1-888-660-6345 (Canada and US Toll Free) or 1-289-819-1450 (International and Toronto Area) and using conference replay entry code 39576 # from July 30, 2026, at 12:00 PM MT to August 6, 2026, at 12:00 PM MT.

To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/3QN5Bxd to receive an instant automated call back. You may also access the webcast at https://app.webinar.net/9WzAoZGngqa. The webcast link will be available on Vermilion's website at https://www.vermilionenergy.com/invest-with-us/events-presentations/ under Upcoming Events prior to the conference call. Participants who would like to submit questions ahead of time may do so by emailing investor_relations@vermilionenergy.com.

(1)  Free cash flow (FCF) and excess free cash flow (EFCF) are non-GAAP financial measures most directly comparable to cash flows from operating activities. FCF is calculated as fund flows from operations less drilling and development costs and exploration and evaluation costs and EFCF is calculated as FCF less payments on lease obligations and asset retirement obligations settled. FCF is used by management to determine the funding available for investing and financing activities including payment of dividends, repayment of long-term debt, reallocation into existing business units and deployment into new ventures. EFCF is used by management to determine the funding available to return to shareholders after costs attributable to normal business operations. FCF and EFCF do not have standardized meanings under IFRS Accounting Standards and therefore may not be comparable to similar measures provided by other issuers.

About Vermilion

Vermilion is a global gas producer that seeks to create value through the acquisition, exploration and development of liquids-rich natural gas in Canada and conventional natural gas in Europe while optimizing low-decline oil assets. Our repositioned portfolio is focused on per share value creation, with long-life assets that deliver top decile realized gas prices and enhanced capital allocation optionality.

Vermilion's priorities are health and safety, the environment, and profitability, in that order. Nothing is more important than the safety of the public and those who work with Vermilion, and the protection of the natural surroundings. In addition, the Company emphasizes strategic community investment in each of its operating areas.

Vermilion trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbol VET.

View original content to download multimedia:https://www.prnewswire.com/news-releases/vermilion-energy-inc-announces-tsx-approval-for-renewal-of-normal-course-issuer-bid-and-confirms-q2-2026-release-date-and-conference-call-details-302821172.html

SOURCE Vermilion Energy Inc.

 

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2026/08/c6329.html

%CIK: 0001293135

For further information: For further information please contact: Dion Hatcher, President & CEO and/or Lars Glemser, Vice President & CFO; TEL (403) 269-4884 | IR TOLL FREE 1-866-895-8101 | investor_relations@vermilionenergy.com | www.vermilionenergy.com

CO: Vermilion Energy Inc.

CNW 17:00e 08-JUL-26

Source: View Original Filing on SEC EDGAR

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