Nutrien Ltd. has secured approval from the Toronto Stock Exchange to launch a new normal‑course issuer bid (NCIB) that allows the company to repurchase up to five percent of its issued and outstanding common shares, or 24,057,066 shares. The program will begin on March 3, 2026 and will expire on March 2, 2027, giving Nutrien a full year to execute the buyback at its discretion.
Under the NCIB, daily purchases are capped at 25 % of the average daily trading volume, which translates to 430,107 shares based on the period from August 1, 2025 to January 31, 2026. Nutrien has already completed a prior NCIB that repurchased 8,708,901 shares at a weighted‑average price of US$58.56 per share, demonstrating the company’s experience with this regulatory framework.
The approval comes after Nutrien reported strong 2025 results, including record fertilizer sales and a 13 % increase in adjusted EBITDA. Management highlighted that the company’s free‑cash‑flow generation and disciplined capital‑expenditure program provide excess liquidity that can be returned to shareholders. The new buyback is therefore a continuation of Nutrien’s long‑term capital‑allocation strategy, which also includes a $2 billion program announced in February 2023 and the prior NCIB that ended March 2, 2026.
The TSX’s NCIB rules require that a company’s share repurchase not exceed five percent of its outstanding shares and that daily purchases remain within 25 % of average daily volume. Nutrien’s program complies with these limits, ensuring a controlled pace of buybacks that protects market liquidity while delivering value to shareholders.
By expanding its share‑repurchase authority, Nutrien reinforces its commitment to returning capital to investors. The program is expected to reduce the share count, potentially lift earnings per share, and signal confidence in the company’s ongoing cash‑flow strength and 2026 growth outlook.
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