CANADIAN IMPERIAL BANK OF COMMERCE /CAN/ (CM) Form 6-K — Jun 4, 2026
CIBC announced that the Toronto Stock Exchange has approved its new normal course issuer bid (NCIB) to repurchase up to 30 million common shares. This new program represents approximately 3.3% of the bank's 912.8 million outstanding shares and will run until June 7, 2027. The bank completed its previous NCIB in May 2026, having repurchased the full 20 million authorized shares at an average price of $129.68 per share for a total cost of $2.6 billion. The new repurchases are consistent with CIBC's strategy of maintaining balance sheet strength while generating shareholder value through balanced capital deployment.
Key figures
- Shares Offered
- 30000000
- Shares Outstanding
- 912835441
- Ncib start date
- June 8, 2026
- Dilution percent
- 3.3
- Ncib expiry date
- June 7, 2027
- Previous ncib avg price
- 129.68
- Previous ncib total cost usd
- 2600000000
- Previous ncib shares repurchased
- 20000000
AI analysis
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