TORONTO, March 12, 2024 /CNW/ - The Toronto-Dominion Bank
("TD Bank Group" or "TD") announced today that it will exercise its
right to redeem all of its 14,000,000 outstanding Non-Cumulative
5-Year Rate Reset Class A First Preferred Shares, Series 22
(Non-Viability Contingent Capital) (the "Series 22 Shares") on
April 30, 2024 at the price of
$25.00 per Series 22 Share for an
aggregate total of approximately $350
million. The redemption has been approved by the
Office of the Superintendent of Financial Institutions.
On February 29, 2024, TD announced
that dividends of $0.325 per Series
22 Share had been declared. These will be the final dividends
on the Series 22 Shares, and will be paid in the usual manner on
April 30, 2024 to shareholders of
record on April 9, 2024, as
previously announced. After April 30,
2024, the Series 22 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 22 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 27.5 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 $1.91 trillion in assets
on January 31, 2024. The Toronto-Dominion Bank trades under
the symbol "TD" on the Toronto and New York Stock
Exchanges.
SOURCE TD Investor Relations