Stantec has increased the scope of its share-repurchase program to 5% of its shares.

The Canadian engineering, architecture and environmental consulting company said Tuesday that it now expects to buy back up to 5.7 million shares, up from a previous 2.3 million, or 2% of its public float.

As of Monday, the company had repurchased and cancelled about 1.7 million of its common shares at an average price of 103.43 Canadian dollars ($74.55) as part of its normal course issuer bid launched in early March.

Shares have been under pressure in 2026, falling about 20% since the start of the year to close on Monday at C$103.13. The stock is down 30% over the last 52 weeks.

At Monday's closing price, the total value of the block of shares intended for buyback would be worth roughly C$588.2 million.

The amended buyback plan will begin Aug. 20 and end March 11.