01—Abstract
Summary
Summary of the 8-K filed October 1, 2026. Cited figures are marked; the original filing is the authoritative source.
Ovintiv Inc. (NYSE, TSX: OVV) announced on October 1, 2026 that the Toronto Stock Exchange has accepted its notice to renew its normal course issuer bid (NCIB), permitting purchase of up to 26,973,037 common shares during the 12-month period from October 5, 2026 to October 4, 2027.
The company describes the renewal as consistent with its capital allocation framework of returning 50%a to 100% of annual Non-GAAP Free Cash Flow to shareholders through base dividends and share buybacks, and states it has committed to returning at least 60% of 2026 Non-GAAP Free Cash Flow. The authorized share count represents 10 percent of public float as of September 21, 2026, as calculated under TSX rules. The company also renewed its automatic share purchase plan (ASPP), which allows its designated broker to buy shares under the NCIB during regulatory restrictions and customary self-imposed blackout periods.
Purchases will be made on the TSX, NYSE, other designated exchanges and alternative trading systems, subject to Rule 10b-18 and TSX daily volume limits. Based on average daily TSX trading volume of 216,540 shares for the six months ended August 31, 2026, daily TSX purchases are limited to 54,135 shares, other than block purchase exceptions. Under the existing NCIB (October 3, 2025 to October 2, 2026, authorizing up to 22,287,709 shares), Ovintiv had purchased 13,925,579 common shares as of September 30, 2026, at a weighted average price of US$58.49b per share.
In the third quarter of 2026 alone, it bought 6,332,551 shares at a weighted average price of US$60.90c per share. The filing furnishes the news release under Item 7.01 (Regulation FD) and states it is not deemed filed for purposes of Section 18 of the Exchange Act.
02—Key points
Key Highlights
- TSX accepted renewal of the NCIB to buy up to 26,973,037 common shares from October 5, 2026 to October 4, 2027, equal to 10 percent of public float as of September 21, 2026.
- Company committed to returning at least 60% of 2026 annual Non-GAAP Free Cash Flow to shareholders, within a framework of 50% to 100% returns via base dividends and buybacks.
- Automatic share purchase plan (ASPP) renewed, allowing purchases during regulatory restrictions and customary blackout periods.
- Daily TSX purchases limited to 54,135 shares based on six-month average daily trading volume of 216,540 shares, other than block purchase exceptions.
- Under the expiring NCIB, 13,925,579 shares were purchased as of September 30, 2026, at a weighted average price of US$58.49 per share.
- In Q3 2026, the company purchased 6,332,551 shares at a weighted average price of US$60.90 per share.
- NCIB renewal relies on an exemption order renewed June 5, 2025, permitting U.S. marketplace repurchases above the usual 5 percent Canadian limit, subject to a 10 percent public float cap.
03—Questions
Frequently Asked Questions
How many shares can Ovintiv repurchase under the renewed buyback program?
Ovintiv may purchase up to 26,973,037 common shares during the 12-month period commencing October 5, 2026 and ending October 4, 2027. This represents 10 percent of its public float as of September 21, 2026, as calculated under TSX rules.
What is Ovintiv's capital return commitment?
Ovintiv's capital allocation framework commits to returning 50% to 100% of annual Non-GAAP Free Cash Flow to shareholders through base dividends and share buybacks. For 2026, the company has committed to returning at least 60% of annual Non-GAAP Free Cash Flow.
What did Ovintiv pay for shares under the expiring buyback program?
Under the existing NCIB, Ovintiv had purchased 13,925,579 common shares as of September 30, 2026, at a weighted average price of US$58.49 per share. In the third quarter of 2026, it purchased 6,332,551 shares at a weighted average price of US$60.90 per share.
What is the automatic share purchase plan and why does it matter?
The automatic share purchase plan allows Ovintiv's designated broker to buy shares under the NCIB during regulatory restrictions and customary self-imposed blackout periods. Instructions are given during non-blackout periods and cannot be varied or suspended during blackouts, and all purchases count toward the NCIB total.
How are daily purchases limited?
Daily purchases through the TSX are limited to 54,135 common shares, other than block purchase exceptions, based on average daily trading volume of 216,540 shares for the six months ended August 31, 2026. NYSE purchases must follow the volume limits of Rule 10b-18.
04—Continue