TORONTO, June 25,
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 3 (Non-Viability
Contingent Capital) (the "Series 3 Shares") on July 31, 2024 at the price of $25.00 per Series 3 Share for an aggregate total
of approximately $500 million.
The redemption has been approved by the Office of the
Superintendent of Financial Institutions.
On May 23, 2024, TD announced that
dividends of $0.2300625 per Series 3
Share had been declared. These will be the final dividends on
the Series 3 Shares, and will be paid in the usual manner on
July 31, 2024 to shareholders of
record on July 10, 2024, as
previously announced. After July 31,
2024, the Series 3 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 3 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 $1.97 trillion in
assets on April 30, 2024. The
Toronto-Dominion Bank trades under the symbol "TD" on the
Toronto and New York Stock
Exchanges.
SOURCE TD Bank Group