MONTREAL, May 30, 2018 /CNW Telbec/ - National Bank of
Canada (the "Bank") (NA) today announced that its Board has authorized a normal course issuer
bid to purchase for cancellation up to 8,000,000 of its issued and outstanding common shares, representing approximately 2.36% of
the 339,376,789 issued and outstanding common shares as at May 24, 2018. This normal course issuer
bid is subject to the approval of the Office of the Superintendent of Financial Institutions Canada (OSFI) and the Toronto Stock
Exchange (TSX).
It is expected that this normal course issuer bid will begin on or about June 6, 2018 and will
end at the latest on or about June 5, 2019. The purchases will be made through the facilities of
the TSX and/or any alternative trading system in Canada. The Bank will pay the market price for
the common shares at the time of acquisition and the purchases will be made in accordance with the TSX Company Manual and
applicable regulatory requirements. Common shares may also be repurchased through other means permitted by applicable securities
laws, including by private agreements or share repurchase programs pursuant to issuer bid exemption orders issued by securities
regulatory authorities. Any purchase made under an exemption order issued by a securities regulatory authority will be at a
discount to the prevailing market price. The Bank intends to periodically establish an automatic program under which its broker,
National Bank Financial Inc., would repurchase shares pursuant to the normal course issuer bid within a defined set of criteria
which the Bank would not vary. The Bank will only make purchases under the bid after notifying OSFI. The actual number of common
shares which may be purchased, and the timing of any such purchases, will be determined by the Bank. The common shares acquired
pursuant to the normal course issuer bid will be cancelled.
The normal course issuer bid will provide the Bank with additional flexibility to manage capital and generate value for
shareholders.
Caution Regarding Forward-Looking Statements
This press release includes certain forward-looking statements. These statements are inherently subject to
significant risks, uncertainties and changes in circumstances, many of which are beyond the control of the Bank, including,
obtaining the necessary regulatory approvals, changes in general economic and market conditions and amendments to, and
interpretations of, risk-based capital guidelines. Except as required by law, the Bank does not undertake to update any
forward-looking statements, whether written or oral, that may be made from time to time, by it or on its behalf. The
forward-looking information contained in this press release is presented for the purpose of interpreting the information
contained herein and may not be appropriate for other purpose.
About National Bank of Canada
With $256 billion in assets as at April 30, 2018, National Bank of Canada , together with its
subsidiaries, forms one of Canada's leading integrated financial groups. It has more than
22,000 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its
commitment to diversity. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's
activities at nbc.ca or via social media
such as Facebook
, LinkedIn
and Twitter .
SOURCE National Bank of Canada
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