By Robb M. Stewart
Imperial Oil renewed a one-year buyback program for up to5% of its outstanding shares.
The Exxon Mobil-controlled Canadian energy company on Tuesday said it received final acceptance from the Toronto Stock Exchange for a normal course issuer bid for a maximum 24.2 million of its shares.
The total will be reduced by the number of shares bought from Exxon Mobil, which will be allowed to sell in order to maintain its stake in Imperial at about 69.6%, the Calgary, Alberta company said.
The new buyback program will begin on June 29.
Under Imperial's prior buyback program, the company purchased the maximum 25.5 million shares that were available, with 7.7 million shares bought on the open market and 17.7 million shares picked up from Exxon Mobil, the company said.
Imperial's shares have fallen 7.1% over the last three months but remain up 36% year-to-date, last closing at C$161.61 in Toronto.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
June 23, 2026 08:19 ET (12:19 GMT)
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