Ovintiv renews annual share buyback program

Ovintiv announced it has received regulatory approvals for the renewal of its share buy-back program. This action is consistent with the company’s capital allocation framework, which returns at least 50% of post base dividend non-GAAP free cash flow to shareholders. The Toronto Stock Exchange has accepted Ovintiv’s notice of intention to renew its normal course issuer bid, or NCIB, to purchase up to 25,920,545 common shares during the 12-month period commencing October 3 and ending October 2, 2025. The number of shares authorized for purchase represents 10% of Ovintiv’s public float as of September 20 as calculated pursuant to TSX rules. Purchases will be made on the open market through the facilities of the TSX, New York Stock Exchange, other designated exchanges and/or alternative trading systems in Canada and the United States at the market price at the time of acquisition, as well as by other means permitted by stock exchange rules and securities laws including Rule 10b-18 under the Securities Exchange Act of 1934, as amended.