Canada’s Banks Get Green Light to Resume Share Buybacks, Dividend Increases
- Pandemic-related restrictions lifted effective immediately
- Banks still able to ‘support the economic recovery,’ OSFI says
This article is for subscribers only.
Canada’s banks will be able to resume buying back shares and increasing their dividends after regulators removed restrictions put in place to protect the financial system during the pandemic.
Banks may immediately begin increasing regular dividends and executive compensation, the Office of the Superintendent of Financial Institutions said in a statement Thursday. Subject to approval by the superintendent, the firms may once again repurchase their stock as well, OSFI said.