In June 2023, Thomson Reuters completed its return of capital transaction. It consisted of a distribution of US$4.67 in cash per common share (approximately US$2.2 billion in the aggregate) and a consolidation of the company's outstanding common shares (or reverse stock split) at a ratio proportionate to the amount returned to shareholders. Shareholders not subject to tax in Canada had the ability to opt-out of the transaction, in which case they did not receive the return of capital and were not subject to the share consolidation, continuing to hold the same number of shares they held prior to the effective time of the transaction. The transaction was structured as a plan of arrangement subject to both shareholder and court approval.