Bank of Montreal receives regulatory approvals for normal course issuer bid.

Bank of Montreal (BMO) has received regulatory approvals for its normal course issuer bid. BMO is a North American bank offering personal and commercial banking, wealth management, global markets, and investment banking services. The bank serves about 13 million customers across North America and select global markets through three operating groups: Personal and Commercial Banking, BMO Wealth Management, and BMO Capital Markets.

Bank of Montreal (BMO) has received regulatory approvals from the Toronto Stock Exchange (TSX) and the Office of the Superintendent of Financial Institutions Canada to proceed with its normal course issuer bid. The approvals allow BMO to terminate its existing normal course issuer bid and establish a new one to purchase up to 30 million of its common shares.

The existing bid, which commenced on January 22, 2025, was scheduled to terminate on January 21, 2026, unless terminated earlier. As of August 29, 2025, BMO had purchased 15.95 million common shares under the existing bid at an average price of $143.39 per share, totaling $2,287 million. The new bid will commence on September 5, 2025, and end no later than September 4, 2026.

The new bid will provide BMO with flexibility to manage its capital position. Purchases under the new bid may be made through the TSX and other designated exchanges or alternative Canadian trading systems, or by other means permitted by securities regulatory authorities. The purchase price for any shares purchased under the new bid will be market price at the time of acquisition, except for any purchases made under an exemption order, which will generally be at a discount to the prevailing market price.

The new bid represents approximately 4.2% of BMO's public float of common shares, which stood at 716,119,627 shares as of July 31, 2025. The average daily trading volume for the six months ended July 31, 2025, was 2,879,257 shares, with a daily maximum number of shares available for purchase of 719,814.

BMO intends to terminate its existing automatic securities purchase plan and establish a new one under which its broker, BMO Nesbitt Burns Inc., may purchase common shares under the new bid within a defined set of criteria. The actual number of shares purchased, the timing of purchases, and the price at which the shares are bought will depend on future market conditions.

The bank cautions that forward-looking statements included in this press release may not be appropriate for other purposes and may be subject to inherent risks and uncertainties. Investors and others should carefully consider these factors and risks, as well as other uncertainties and potential events, and the inherent uncertainty of forward-looking statements.

References:
[1] https://newsroom.bmo.com/2025-09-02-Bank-of-Montreal-Receives-Regulatory-Approvals-for-Normal-Course-Issuer-Bid