Ovintiv Inc. has received approval from the Toronto Stock Exchange to renew its Normal Course Issuer Bid, allowing the company to repurchase up to 26,973,037 common shares from October 5, 2026, to October 4, 2027. This buyback program aligns with Ovintiv's capital allocation strategy to return 50% to 100% of its annual Non-GAAP Free Cash Flow to shareholders through dividends and share repurchases. For 2026, the company aims to return at least 60% of this cash flow to shareholders. The shares repurchased may be cancelled or held as treasury shares, and purchases will be made on multiple exchanges including the TSX and NYSE. Ovintiv has also renewed its automatic share purchase plan to facilitate buybacks even during blackout periods, ensuring consistent execution of the program.
Ovintiv's share buy-back program renewal coincides with a mixed day for the Energy sector on Pluang, where 12 of 38 priced US stocks rose and 23 fell as of Oct 01, 2026 14:31 WIB. Among notable movers, Shell PLC (SHEL) traded at USD 93.70 with a 1-day change of -1.42% and a typical hold time of 90 days, while Solaredge Technologies Inc (SEDG) rose 1.22% to USD 32.26 with a 33-day hold time. Cameco (CCJ) also gained 1.14% to USD 87.66, with a shorter typical hold time of 4 days and a Pluang order activity skewed 70% Buy.
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