Ovintiv Inc. (NYSE, TSX: OVV) announced on October 1, 2026, that it has received approval from the Toronto Stock Exchange (TSX) to renew its normal course issuer bid (NCIB). The program authorizes the company to purchase up to 26,973,037 common shares over a 12-month period beginning October 5, 2026, and ending October 4, 2027.
The number of shares authorized represents 10 percent of Ovintiv's public float as of September 21, 2026. Purchases will be conducted on the open market through the TSX, New York Stock Exchange (NYSE), and other designated exchanges or alternative trading systems at market prices. The company has also renewed its automatic share purchase plan (ASPP), which allows for share purchases during customary blackout periods.
Daily purchases on the TSX are limited to 54,135 shares, based on the average daily trading volume of 216,540 shares over the six months ended August 31, 2026. Purchases on the NYSE will comply with Rule 10b-18 volume limitations.
This renewal is consistent with Ovintiv's capital allocation framework, which commits to returning 50% to 100% of annual Non-GAAP Free Cash Flow to shareholders. For 2026, the company has committed to returning at least 60% of annual Non-GAAP Free Cash Flow through dividends and buybacks.
Under its previous NCIB, which ran from October 3, 2025, to October 2, 2026, Ovintiv purchased 13,925,579 shares at a weighted average price of US$58.49 per share. In the third quarter of 2026 alone, the company acquired 6,332,551 shares at an average price of US$60.90 per share.
