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.
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References in periodicals archive ?
On July 17, 2018 , the Company began a normal course issuer bid ('NCIB') to repurchase for cancellation up to 24,587,978 common shares.
Daily purchases under the NCIB will be limited to 25% of the ADTV, which is 4,314 common shares, other than block purchase exceptions.
Under this NCIB, common shares may be repurchased in open market transactions on the TSX and/or other Canadian exchanges, or by such other means as may be permitted by the TSX and applicable Canadian securities laws.
Taiga believes that the NCIB is in the best interests of the Company and its shareholders and that the NCIB represents a desirable use of corporate funds.
Purchases under the NCIB will be made through the facilities of the TSX, the New York Stock Exchange (the 'NYSE') and/or alternative Canadian or foreign trading systems, if eligible, or by such other means as may be permitted by applicable securities laws, including private agreements.
Slate Retail REIT (TSX:SRT.U) (TSX:SRT.UN) on Saturday disclosed that under its normal course issuer bid (NCIB) that began on 26 May 2018, it signed an automatic securities repurchase plan with its designated broker to facilitate purchases of its class U units.
M2 EQUITYBITES-October 8, 2018-Slate Retail REIT signs automatic securities repurchase plan under its NCIB
Under the NCIB, CGI is authorized to repurchase up to 20,595,539 Class A Shares by February 5, 2019.