Restaurant Brands International Renewed Share Repurchase Program
News related to:Restaurant Brands International Inc · 2 min read
MIAMI, Sept. 11, 2026 /CourierPR/ -- Restaurant Brands International Inc. (RBI) has announced its intention to renew its normal course issuer bid (NCIB) for the purchase of up to U.S.$1,000 million of its common shares. The renewed NCIB will run from September 16, 2026, to September 15, 2027, and will allow RBI to repurchase up to 34,404,688 common shares, representing 10% of its public float.
According to the press release, the NCIB is part of RBI's broader share repurchase authorization, which was approved by the company's board. The authorization permits the company to buy back shares over a period extending to September 30, 2027. As of September 2, 2026, RBI had 348,762,825 common shares issued and outstanding, with a public float of 344,046,880 shares.
RBI plans to conduct the repurchase activities through the facilities of the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE), as well as alternative trading systems in Canada and the U.S. The company may also use other methods, such as private agreements, derivative-based programs, and accelerated share repurchase transactions, to acquire shares. Any purchases made through private agreements will generally be at a discount to the prevailing market price.
Under the NCIB, RBI will adhere to specific limits and rules. On the TSX, the company will purchase shares in compliance with the TSX's rules, with a daily limit of 274,585 common shares, which is 25% of the average daily trading volume on the TSX for the six months ended August 31, 2026. On the NYSE, RBI will follow Securities and Exchange Commission Rule 10b-18 and U.S. federal securities laws.
The company's previous NCIB, which commenced on September 16, 2025, and expired on September 15, 2026, saw RBI repurchase 2,910,671 common shares for cancellation at a weighted average price of approximately U.S.$74.97 per share. All repurchases under the previous NCIB were conducted through the NYSE, TSX, or an alternative stock exchange in the United States or Canada.
RBI believes that the market price of its common shares may present an attractive opportunity for the company to use its corporate funds. The decision to repurchase shares will be based on market conditions, share price, and other relevant factors. The company reserves the right to modify, suspend, or discontinue its share repurchase activities at any time.
The press release also highlights that RBI is one of the world's largest quick service restaurant companies, with nearly $49 billion in annual system-wide sales and over 33,000 restaurants in more than 120 countries and territories. The company owns four prominent quick service restaurant brands: Tim Hortons, Burger King, Popeyes, and Firehouse Subs. Through its Restaurant Brands for Good framework, RBI is committed to improving sustainable outcomes related to its food, the planet, and people and communities.
In conclusion, the renewed NCIB reflects RBI's ongoing commitment to managing its capital structure and returning value to shareholders. The company's actions are based on its belief that the current market conditions present an attractive opportunity for share repurchases.