On April 28 2026, Thomson Reuters shareholders voted in a special meeting to approve a plan of arrangement that will return $605 million in cash to shareholders, roughly $1.36 per common share, and will consolidate the company’s outstanding shares through a reverse split. The vote was conducted in‑person and the results will be filed with the Ontario Superior Court of Justice and the Toronto Stock Exchange, with final approval expected on April 29 2026.
The $605 million capital return is funded by the gross proceeds of Thomson Reuters’ May 2024 sale of London Stock Exchange Group shares. The company has positioned this distribution as part of a disciplined capital‑allocation strategy that seeks to return excess cash while preserving a low leverage profile and a strong balance sheet. Net debt to adjusted EBITDA stood at 0.6× in February 2026, well below the company’s target of 2.5×, underscoring the capacity to fund shareholder returns without compromising investment flexibility.
The share consolidation will be executed as a reverse split whose ratio will be determined on May 1 2026 based on the volume‑weighted average trading price of the common shares for the five trading days immediately prior to the effective date. The consolidation is scheduled to take effect on May 4 2026, after which the post‑consolidation shares will begin trading on the Toronto Stock Exchange.
Financial context for the capital return is clear: Thomson Reuters reported a diluted EPS of $0.74 in Q4 2025, a 43.08% decline YoY, and a full‑year 2025 EPS of $3.33, down 31.9% from 2024. Adjusted EPS for Q4 2025 was $1.07, beating analyst expectations of $1.06. These figures illustrate the company’s ability to generate cash while maintaining profitability, providing a solid foundation for the announced return of capital.
Management emphasized the company’s balanced approach to capital allocation. CEO Steve Hasker said, “We continue to invest heavily in innovation, and believe we are well positioned to help our customers harness the potential of content‑driven technology and AI to navigate an increasingly complex and changing world.” He added, “As we look ahead, we remain committed to taking a balanced capital allocation approach, focusing on delivering sustained value creation through a long‑term investment strategy.”
Analysts have noted the capital return in the context of Thomson Reuters’ broader strategy to invest in AI and generative‑AI initiatives while maintaining a strong balance sheet. Some analysts have adjusted their ratings to reflect competitive pressures in the AI space, but the overall consensus remains supportive of the company’s long‑term value creation plan.
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