TORONTO, Dec. 23,
2024 /CNW/ - The Toronto-Dominion Bank ("TD Bank
Group" or "TD") announced today that it will exercise its right to
redeem all of its 20,000,000 outstanding Non-Cumulative 5-Year Rate
Reset Class A First Preferred Shares, Series 5 (Non-Viability
Contingent Capital) (the "Series 5 Shares") on January 31, 2025 at the price of $25.00 per Series 5 Share for an aggregate total
of approximately $500 million.
The redemption has been approved by the Office of the
Superintendent of Financial Institutions.
On December 5, 2024, TD announced
that dividends of $0.24225 per Series
5 Share had been declared. These will be the final dividends
on the Series 5 Shares, and will be paid in the usual manner on
January 31, 2025 to shareholders of
record on January 10, 2025, as
previously announced. After January 31,
2025, the Series 5 Shares will cease to be entitled to
dividends and the only remaining rights of holders of such shares
will be to receive payment of the redemption amount.
Beneficial holders who are not directly the registered holder of
Series 5 Shares should contact the financial institution, broker or
other intermediary through which they hold these shares to confirm
how they will receive their redemption proceeds. Inquiries should
be directed to our Registrar and Transfer Agent, TSX Trust Company,
at 1-800-387-0825 (or in Toronto
416-682-3860).
About TD Bank Group
The Toronto-Dominion Bank and its
subsidiaries are collectively known as TD Bank Group ("TD" or the
"Bank"). TD is the sixth largest bank in North America by assets and serves over 27.9
million customers in four key businesses operating in a number of
locations in financial centres around the globe: Canadian Personal
and Commercial Banking, including TD Canada Trust and TD Auto
Finance Canada; U.S. Retail, including TD Bank, America's Most
Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an
investment in The Charles Schwab Corporation; Wealth Management and
Insurance, including TD Wealth (Canada), TD Direct Investing, and TD
Insurance; and Wholesale Banking, including TD Securities and TD
Cowen. TD also ranks among the world's leading online financial
services firms, with more than 17 million active online and mobile
customers. TD had $2.06 trillion in
assets on October 31, 2024. The
Toronto-Dominion Bank trades under the symbol "TD" on the
Toronto and New York Stock
Exchanges.
SOURCE TD Bank Group