CANADIAN IMPERIAL BANK OF COMMERCE /CAN/ (CM) Form 6-K — May 28, 2026
CIBC announced its intention to repurchase up to 30 million common shares for cancellation under a new normal course issuer bid, subject to TSX approval. This new bid represents approximately 3.3% of the bank's outstanding common shares as of April 30, 2026. The previous normal course issuer bid, which allowed for the purchase of up to 20 million shares, expired on May 25, 2026. During that period, CIBC purchased all 20 million authorized shares at an average price of $129.68 per share, totaling $2.6 billion.
Key figures
- Shares Offered
- 30000000
- Previous Bid Shares
- 20000000
- Previous Bid Avg Price
- 129.68
- Previous Bid Total Cost
- 2600000000
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