MDA Space will be able to buy back as much as 5 per cent of its own stock over the next year, after the Toronto Stock Exchange approved the company’s buyback plan Monday. MDA is dual-listed, trading under the same ticker on the TSX and the New York Stock Exchange.
The mechanism is a normal course issuer bid, stock-exchange shorthand for a company repurchasing its own shares on the open market rather than making an offer to every shareholder at once.
The approval covers up to 8.1 million shares, based on the 162.1 million MDA had outstanding as of Sept. 11.
MDA can buy no more than about 313,000 shares on any single trading day, a quarter of the stock’s recent average volume, under a program that runs from Wednesday, Sept. 23, 2026, through Sept. 22, 2027. MDA also disclosed the plan in a filing with the U.S. Securities and Exchange Commission, where it reports as a foreign private issuer because of its New York listing.
MDA will pay whatever the market sets at the time of each purchase, and every share it buys back will be cancelled rather than held for future use. A broker-run automatic purchase plan lets the buying continue through MDA’s own self-imposed blackout periods — windows, typically tied to unpublished financial results, when the company otherwise limits its own trading.
MDA is framing the share buyback as opportunistic buying. The company said in its release that it sees “potential benefits” in buying back stock “during periods of general market volatility.” Nothing obligates MDA to purchase any of the shares the approval covers. A normal course issuer bid authorizes a ceiling on repurchases, and companies routinely authorize the maximum while buying only a fraction of it.
MDA raised $600 million in senior notes this summer to help fund its purchase of Blue Canyon Technologies, a Colorado satellite-component maker it bought from Raytheon, and paid $278 million last year for the satellite-chipmaker SatixFy — spending that continues alongside the new buyback authorization. SpaceQ’s complete MDA Space coverage is archived under the company’s tag.