Thomson Reuters plans to buy back up to $500 million of its own shares under a new repurchase programme announced on Wednesday, 11 November 2026. The buyback, approved by the Toronto Stock Exchange, will run for a year from 13 November 2026 and covers up to 7 million common shares, or about 1.6% of the shares in issue.

The announcement comes as the content and technology group faces investor concern about the rising cost of artificial intelligence. Thomson Reuters reported higher quarterly revenue earlier in November, but its shares fell as investors worried about the impact of heavier AI spending on profits. Its Canadian-listed shares have fallen about 15% so far this year, according to Reuters.

How the buyback will work

Shares will be bought under a new normal course issuer bid, the Canadian mechanism that allows a listed company to repurchase its own stock on the open market. Thomson Reuters said purchases may take place on the Toronto Stock Exchange, the Nasdaq Global Select Market and other eligible exchanges, at the market price at the time of purchase. Any shares bought back will be cancelled.

The programme covers up to 7 million common shares, which the company said represented about 1.6% of its 433,458,865 issued and outstanding shares as of 31 October 2026. The bid runs from 13 November 2026 to 12 November 2027, and the company may suspend or stop the purchases at any time. There is no guarantee the full $500 million will be spent.

Woodbridge to take part proportionally

The Woodbridge Company, the controlling shareholder of Thomson Reuters with about 70% of the shares in issue, plans to take part in the buyback on a proportional basis so that its percentage holding is maintained. Thomson Reuters said it will be allowed to buy shares from Woodbridge from 13 November under an exemption granted by the Toronto Stock Exchange.

The new programme follows an earlier buyback. Under an amended bid that took effect on 27 February 2026, the company was approved to buy up to $1.6 billion of shares, or 16 million shares, between August 2025 and August 2026. It repurchased 6,155,886 common shares over the past 12 months at a cost of $600 million, an average price of $97.48 per share.

AI spending worries weigh on software stocks

The buyback lands in a difficult period for software and information companies. Wall Street has punished stocks across the sector this earnings season, including Alphabet and Amazon, on fears that the mounting bill for AI infrastructure and computing will eat into corporate profits. Thomson Reuters, which sells legal, tax and news products, has been caught up in the same sell-off even as demand for its services has held up.

A buyback does not change the underlying business, but it returns cash to shareholders who choose to sell and reduces the number of shares in issue, which can lift earnings per share. For Thomson Reuters, the programme also signals that management believes the shares are worth buying at current prices after this year’s decline.

What happens next

Investors will watch whether the company buys steadily through the year or pauses if the share price recovers. The first purchases can begin on Thursday, 13 November. The programme will also be watched alongside the company’s AI investment plans, as shareholders weigh the balance between returning cash and funding the technology that underpins its products.

Frequently asked questions

How much is Thomson Reuters buying back? Up to $500 million of common shares, with a maximum of 7 million shares, under a normal course issuer bid approved by the Toronto Stock Exchange.

When does the buyback start? Purchases can begin on 13 November 2026 and run until 12 November 2027.

Will controlling shareholder Woodbridge sell shares? Woodbridge, which holds about 70% of Thomson Reuters, plans to take part proportionally so its percentage stake stays the same.

Sources: Thomson Reuters announcement via PR Newswire and Reuters.