Royal Bank of Canada has received approval from the Toronto Stock Exchange (TSX) and the Office of the Superintendent of Financial Institutions (OSFI) to repurchase up to 45 million of its common shares for cancellation. This normal course issuer bid represents approximately 3.24% of the 1,389,738,870 common shares issued and outstanding as at May 29, 2026. The initiative provides the bank flexibility to manage its capital position while generating shareholder value.

Purchases under the bid may commence on June 12, 2026 and continue until June 11, 2027, unless the bank completes its purchases earlier. The bank may acquire shares through the facilities of the TSX, the New York Stock Exchange, and other designated exchanges and alternative Canadian trading systems at the prevailing market price. The maximum number of shares that may be purchased on the TSX on any given day is 886,352 common shares, which is 25% of the average daily trading volume for the six months ending May 29, 2026.

The bank will establish an automatic share purchase plan on June 12, 2026, under which its broker, RBC Dominion Securities Inc., may periodically purchase common shares within a defined set of criteria. The actual number of shares purchased, the timing, and the price will depend upon future market conditions.

Previous Repurchase Activity

The bank's previous normal course issuer bid for the purchase of 35 million shares commenced on June 12, 2025 and expires on June 11, 2026. As of the close on May 29, 2026, the bank repurchased 19,168,210 shares under that bid at a volume weighted average price of approximately $215.85 per share.

Key Repurchase Details