Vermilion Energy Gets TSX OK for 15.16M Share Buyback and 40% Cash Return Plan
VET•Vermilion Energy received TSX approval to repurchase up to 15.16 million common shares (10% of its float) over 12 months from July 12, 2026, with a daily limit of 322,467 shares and a weekly block-purchase option. The company plans to return 40% of excess cash flow in 2026 via dividends and buybacks.
1. TSX Approval of NCIB Renewal
Vermilion Energy announced TSX approval to renew its normal course issuer bid across Canadian and U.S. trading venues. The program allows repurchase of up to 15,157,179 shares—approximately 10% of its 151.6 million share public float—from July 12, 2026 through July 11, 2027.
2. NCIB Terms and Limits
Under the renewed NCIB, the company can purchase up to 322,467 shares per trading day, representing 25% of its six-month average daily volume, and may execute one weekly block purchase beyond daily limits. An automatic share purchase plan has been pre-cleared to facilitate purchases during blackout periods, and all repurchased shares will be cancelled.
3. Capital Return Objectives
Since 2003 Vermilion has returned over $40 per share in dividends and has run an active NCIB since 2022. For 2026, management targets returning 40% of excess cash flow through its base dividend and share repurchases, citing perceived undervaluation of the stock.
4. Upcoming Q2 Release and Call Details
Vermilion will release its Q2 2026 operating and financial results on July 29 after market close, with a conference call and webcast scheduled for July 30 at 10:00 AM ET. Participants can register online or dial in, and a replay will be available until August 6.
