When was this $1B repurchase program authorized and what is the window?

The Board approved the program on August 6, 2025, authorizing repurchases from September 15, 2025 through September 30, 2027. This gives the company a two-year execution window to complete the program at management's discretion.

How much has RBI repurchased so far and what is the remaining balance?

As of July 31, 2026, RBI repurchased 2.3 million shares for $172 million total, leaving $794 million available under the authorization. The company repurchased 1.8 million shares for $137 million in Q2 2026 alone, demonstrating active execution.

What execution method does RBI use for these buybacks?

RBI executes repurchases as open-market purchases under Rule 10b-18, the standard SEC safe harbor for corporate buybacks. The company does not disclose a formal 10b5-1 trading plan in this filing, though such arrangements may exist outside this disclosure.

How do these buybacks fit into RBI's overall capital allocation strategy?

RBI returned $435 million total to shareholders in the first half of 2026 through both dividends and share repurchases. The company prioritizes capital discipline, balancing buybacks against its leverage target; net leverage stood at 4.1x in June 2026, down from 4.6x prior year, showing gradual debt reduction.

What was the average price paid per share during the buyback period through July 31, 2026?

Based on $172 million spent on 2.3 million shares, the average price was approximately $75.43 per share. This reflects market prices during the execution period from September 2025 through July 2026.

Does the company plan to accelerate or modify the buyback program?

The filing contains no announcement of acceleration, amendment, or termination. The company states it 'continues to expect' to reach leverage and cash-flow targets, and the buyback remains part of the long-term capital return framework alongside its quarterly dividend.

RSTRF 8-K Filed 2026-08-06 New authorization

Restaurant Brands International authorizes $1B share repurchase program

Company returns $435M to shareholders in H1 2026 via dividends and buybacks; $794M remains under authorization.

Authorization$1.0B

Remaining$794M

MechanismRule 10b-18 open-market purcha

What the filing says

On August 6, 2025, Restaurant Brands International Inc.'s Board of Directors approved a share repurchase program authorizing the repurchase of up to $1,000 million of the company's common shares from September 15, 2025 through September 30, 2027. This authorization was disclosed in the company's Q2 2026 earnings release filed as an 8-K on August 6, 2026.

During the three months ended June 30, 2026, RBI repurchased 1,821,167 common shares for $137 million, excluding excise taxes. As of June 30, 2026, the company had $829 million remaining under the authorization. In subsequent activity through July 31, 2026, RBI repurchased an additional 463,385 common shares for $35 million, leaving $794 million available under the program.

The repurchases were executed as open-market purchases under Rule 10b-18, consistent with standard market practice. The company states that it "returns capital to shareholders via dividends and share repurchases," with $435 million returned to shareholders in the first half of 2026 through both mechanisms combined. RBI maintains disciplined capital allocation while managing its leverage position, with net leverage at 4.1x as of June 30, 2026.

On August 6, 2025, our Board of Directors approved a share repurchase program authorizing the repurchase of up to $1,000 million of our common shares from September 15, 2025 through September 30, 2027. — Restaurant Brands International Limited Partnership 8-K filing · View on SEC EDGAR →

What this means

RBI's $1 billion repurchase authorization, approved in August 2025 for a two-year window, represents a meaningful capital return mechanism alongside its dividend program. Through July 31, 2026, the company has deployed $172 million (17% of the authorization) to retire 2.3 million shares at an average price of approximately $75.43 per share. With $794 million remaining, RBI is balancing share buybacks against its leverage objectives—the company reported net leverage of 4.1x as of mid-2026, down from 4.6x a year prior. The buyback supports per-share earnings accretion in a context where RBI is managing both organic growth and capital structure optimization.

Frequently asked questions

When was this $1B repurchase program authorized and what is the window?: The Board approved the program on August 6, 2025, authorizing repurchases from September 15, 2025 through September 30, 2027. This gives the company a two-year execution window to complete the program at management's discretion.
How much has RBI repurchased so far and what is the remaining balance?: As of July 31, 2026, RBI repurchased 2.3 million shares for $172 million total, leaving $794 million available under the authorization. The company repurchased 1.8 million shares for $137 million in Q2 2026 alone, demonstrating active execution.
What execution method does RBI use for these buybacks?: RBI executes repurchases as open-market purchases under Rule 10b-18, the standard SEC safe harbor for corporate buybacks. The company does not disclose a formal 10b5-1 trading plan in this filing, though such arrangements may exist outside this disclosure.
How do these buybacks fit into RBI's overall capital allocation strategy?: RBI returned $435 million total to shareholders in the first half of 2026 through both dividends and share repurchases. The company prioritizes capital discipline, balancing buybacks against its leverage target; net leverage stood at 4.1x in June 2026, down from 4.6x prior year, showing gradual debt reduction.
What was the average price paid per share during the buyback period through July 31, 2026?: Based on $172 million spent on 2.3 million shares, the average price was approximately $75.43 per share. This reflects market prices during the execution period from September 2025 through July 2026.
Does the company plan to accelerate or modify the buyback program?: The filing contains no announcement of acceleration, amendment, or termination. The company states it 'continues to expect' to reach leverage and cash-flow targets, and the buyback remains part of the long-term capital return framework alongside its quarterly dividend.

authorization rule-10b-18 capital-return quick-service-restaurant q2-2026 dividend

Source. This editorial summary is based on the SEC filing linked above. BuybackStocks aggregates and editorializes publicly available SEC EDGAR filings. Not investment advice. Past authorization announcements do not guarantee future repurchase activity or share price performance. See our full disclosures policy.