07:44 AM EDT, 06/10/2025 (MT Newswires) -- Royal Bank of Canada ( RY ) (the Bank) was at last look up 0.7% in U.S. pre-market on Tuesday after saying the Toronto Stock Exchange (TSX) and the Office of the Superintendent of Financial Institutions (OSFI) approved the bank's normal course issuer bid to purchase, for cancellation, up to 35 million of its common shares.

According to a statement, the purchases can begin on June 12 and continue until June 11, 2026. The price paid for any such repurchased shares will be the prevailing market price at the time of acquisition.

The maximum number of shares that may be repurchased is about 2.5% of the common shares issued and outstanding as of May 30. The amount of purchases on the TSX on any given day will not exceed 1,144,201 common shares, which is 25% of the average daily trading volume on the TSX for the six months ending May 30, 2025. The average daily trading volume of the Bank's shares on the TSX for that six-month period, calculated in accordance with the rules of the TSX for the purposes of the bid, was 4,576,804 shares.

Its shares edged up $0.09 to $174.66 on the TSX yesterday