MONTREAL, Oct. 16, 2017 /CNW Telbec/ - National Bank of Canada (the "Bank") (NA) announces today the completion of its share repurchase program (the "Program"), as required by the conditions of the issuer bid exemption order issued to the Bank by the Ontario Securities Commission on October 4, 2017, in respect of the Program.
Under the Program agreement, on a continuous basis between October 11, 2017 and October 16, 2017, the Bank repurchased common shares of the Bank directly from a third party, subject to daily trading limitations and to an overall maximum of 1,000,000 common shares. The Program was included as part of the Bank's Normal Course Issuer Bid announced on May 31st, 2017.
The Bank purchased an aggregate of 1,000,000 common shares under the Program for an aggregate purchase price of $58,099,893.65. All common shares acquired under the Program were cancelled upon purchase by the Bank.
About National Bank of Canada
With $240 billion in assets as at July 31, 2017, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. The Bank has more than 21,000 employees and is widely recognized as a top employer. 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
For further information: Linda Boulanger, Vice-President, Investor Relations, National Bank of Canada, Tel.: 514-394-0296; Claude Breton, Vice-President, Public Affairs, National Bank of Canada, Tel.: 514-394-8644