Bank of Nova Scotia Wins Approval for New 15 Million-Share Buyback Program
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Bank Of Nova Scotia ( (TSE:BNS) ) has shared an announcement.
On April 2, 2026, Scotiabank received approvals from the Toronto Stock Exchange and Canada’s banking regulator to launch a new normal course issuer bid to repurchase up to 15 million common shares, or about 1.2% of its shares outstanding as of March 24, 2026. The bank will terminate its existing buyback on April 6, 2026, after having fully repurchased 20 million shares at an average price of $90.47, or $1.809 billion, and will implement an automatic repurchase plan from April 7, 2026, to April 6, 2027, giving it added flexibility to manage capital, offset stock-option dilution and support shareholder value through market and privately negotiated purchases on major exchanges.
The new bid follows the completion of the earlier program that ran from May 30, 2025, and was originally scheduled to end on May 29, 2026, with all shares bought under that plan now cancelled. Under the new authorization, Scotiabank’s daily purchases on the TSX will generally be capped at 1,114,002 shares based on recent trading volumes, and all repurchased shares will be cancelled, underscoring a continued focus on capital return and balance-sheet optimization within regulatory limits in a competitive banking landscape.
The most recent analyst rating on (TSE:BNS) stock is a Hold with a C$98.00 price target. To see the full list of analyst forecasts on Bank Of Nova Scotia stock, see the TSE:BNS Stock Forecast page.
Spark’s Take on BNS Stock
According to Spark, TipRanks’ AI Analyst, BNS is a Neutral.
The score is driven primarily by mixed financial performance—solid profitability but pressured by a sharp TTM revenue decline, high leverage, and volatile/free-cash-flow deterioration. Valuation is a relative support due to a mid-range P/E and strong dividend yield. Technicals are neutral-to-mixed, and the earnings call was broadly positive on guidance and efficiency, tempered by elevated credit losses and Canadian banking pressure.
To see Spark’s full report on BNS stock, click here.
More about Bank Of Nova Scotia
The Bank of Nova Scotia, operating as Scotiabank, is one of the largest North American banks by assets, with approximately $1.5 trillion as of January 31, 2026. It offers a broad range of financial services, including personal and commercial banking, wealth and private banking, corporate and investment banking, and capital markets across Canada, the U.S. and international markets.
Average Trading Volume: 4,404,585
Technical Sentiment Signal: Buy
Current Market Cap: C$120B
For an in-depth examination of BNS stock, go to TipRanks’ Overview page.
