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Exxon Mobil Corp.

Imperial Oil Limited Announces Normal Course Issuer Bid to Repurchase Up to 25.4 Million Common Shares

Strategic Insights

— 2 min read

Imperial Oil Limited, a leading Canadian energy company, has announced that it has received final acceptance from the Toronto Stock Exchange for a normal course issuer bid to repurchase up to five percent of its outstanding common shares. This move reflects the company's priority and capacity to return cash to shareholders and eliminate dilution from shares issued in conjunction with its restricted stock unit plan. Imperial plans to purchase up to 25,452,248 shares, with a daily purchase limit of 217,077 shares, over the next 12 months. The company has established an automatic share purchase plan with its designated broker to facilitate the purchase of common shares, both from public shareholders and from ExxonMobil, Imperial's majority shareholder.

Key Takeaways:

  • Imperial Oil Limited has received final acceptance from the Toronto Stock Exchange for a normal course issuer bid to repurchase up to five percent of its outstanding common shares.
  • The company plans to purchase up to 25,452,248 shares over the next 12 months, with a daily purchase limit of 217,077 shares.
  • The average daily trading volume of Imperial's common shares over the six calendar months prior to the date of the announcement was 868,310 shares per day.
  • The new program will begin on June 29, 2025, and will end on June 28, 2026, should the company purchase the maximum allowable number of shares.
  • Imperial has established an automatic share purchase plan with its designated broker to facilitate the purchase of common shares during times when the company would ordinarily not be permitted to purchase due to regulatory restrictions or self-imposed black-out periods.
  • ExxonMobil, Imperial's majority shareholder, will be permitted to sell its shares to Imperial under the NCIB in order to maintain its proportionate share ownership at approximately 69.6%.

Statistics:

  • 25,452,248: The maximum number of common shares that Imperial Oil Limited plans to purchase under the new program.
  • 5%: The percentage of outstanding common shares that Imperial plans to repurchase under the normal course issuer bid.
  • 217,077: The daily purchase limit under the new program for shares held by shareholders other than ExxonMobil.
  • 509,044,963: The number of issued and outstanding common shares of Imperial Oil Limited as of June 15, 2025.
  • $100.06: The average cost of each share purchased under the previous normal course issuer bid.
  • 26,791,840: The maximum number of shares purchased under the previous normal course issuer bid.
  • $2,681 million: The total cost of shares purchased under the previous normal course issuer bid.

Sources:

  • Imperial Oil Limited press release dated June 23, 2025
  • Imperial Oil Limited Form 8-K filing dated June 23, 2025
  • Imperial Oil Limited's most recent annual report on Form 10-K

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