OpenText raises share repurchase program to $500 million

OpenText (NASDAQ: OTEX) (TSX: OTEX) announced it has increased its fiscal 2026 share repurchase program by $200 million to a total of $500 million, according to a company statement. The enterprise information management company will purchase common shares for cancellation under a normal course issuer bid approved by the Toronto Stock Exchange.

The maximum number of common shares that may be acquired under the program remains unchanged at 24,906,456 shares. The repurchase program runs from August 12, 2025, through August 11, 2026, subject to early termination if maximum purchase limits are reached.

"We are raising our authorized limits under our current share repurchase program from $300 million to $500 million, given our confidence in our robust cash flow engine," said Steve Rai, executive vice president and chief financial officer.

Common shares can be repurchased through open market transactions on the TSX, NASDAQ Global Select Market, and alternative trading systems in Canada and the United States, subject to applicable regulations. The company has established an automatic share purchase plan with its broker to facilitate repurchases.

During fiscal 2026, OpenText has purchased approximately $190 million of common shares for cancellation as of January 31, 2026. Of this amount, approximately 5 million common shares valued at about $165 million have been purchased and cancelled since the program began.

The Waterloo, Ontario-based company describes the share repurchase program as an important component of its capital allocation strategy.

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