Imperial Oil has received Toronto Stock Exchange approval for a normal course issuer bid allowing it to repurchase up to 5% of its outstanding common shares. The company may buy back up to 24.17 million shares over the next year, based on 483.59 million shares outstanding as of June 15, with purchases from majority shareholder ExxonMobil reducing that upper limit. The one-year program begins June 29 and runs until June 28, 2027, or until the maximum shares are acquired. The buyback reflects the company's strong balance sheet, cash flows, and focus on tax-efficient shareholder returns.
Imperial Oil LtdTSX approved a 5% share buyback, signaling strong balance sheet and tax-efficient shareholder returns.
Exxon Mobil Corp