Normal-Course Issuer Bid

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Normal-Course Issuer Bid

The act of a publicly-traded company buying its own shares in order to cancel them. By definition, this reduces the number of shares outstanding and therefore increases the earnings per share. This usually results in an increased market value per share. Therefore, a company making an NCIB usually does so in order to increase its market value. Regulations govern the number of shares a company is allowed to buy back in an NCIB. See also: Share buyback.
References in periodicals archive ?
To the knowledge of Energy Fuels, no director, senior officer or insider of Energy Fuels currently intends to sell any Debentures under the NCIB.
Under the NCIB, up to 20,229,671 Common Shares (representing 5% of the total outstanding Common Shares as of September 11, 2015), may be purchased on the TSX and the NYSE over a period of twelve months commencing after TSX approval.
Consequently and in accordance with the requirements of the TSX, the daily purchase limit under the NCIB on the TSX will be 180,609 Class A Shares, representing 25% of the ADTV.
Pursuant to the previous NCIB, the Company repurchased 6,000 Common Shares through the facilities of the TSX Venture Exchange, at a weighted average price of $2.
The NCIB allows for purchases outside the facilities of the TSX by private agreements pursuant to exemption orders issued by securities regulatory authorities.
All common shares purchased by way of private agreements pursuant to the Order will be included in computing the number of common shares purchased under the NCIB (and will not exceed, in aggregate, more than one-third of the maximum number of common shares that TELUS is permitted to purchase under the NCIB, being 5,333,333 common shares).
The NCIB will commence on May 25, 2011 and will terminate on May 24, 2012 or such earlier time as the NCIB is completed or terminated at the option of Duluth.
During the second quarter of Fiscal 2016, a total of 1,531,154 common shares were repurchased for cancellation under the 2014-2015 NCIB and the 2015-2016 NCIB, at a weighted average price of $72.
Pursuant to TSX rules, the maximum number of common shares that may be repurchased during the same trading day on the TSX is 421,589 common shares (being 25% of the average daily trading volume of TELUS common shares for the 6 months preceding the date of the NCIB notice to the TSX, which was equal to 1,686,357 common shares), subject to certain exceptions for block repurchases.
Annual purchases to a maximum of US$65 million under the NCIB may begin on January 26, 2011 and will end no later than January 25, 2012.