TORONTO, Jan. 21, 2015 /CNW/ - The Toronto-Dominion Bank
("TD Bank Group" or "TD") announced today that it will exercise its
right to redeem all of its 10 million outstanding Non-cumulative
Redeemable Class A First Preferred Shares, Series P (the "Series P
Shares") on March 2, 2015 at the cash
redemption price of $25.607877 per
Series P Share, for total redemption proceeds of approximately
$256 million.
TD also announced it will exercise its right to redeem all of
its 8 million outstanding Non-cumulative Redeemable Class A First
Preferred Shares, Series Q (the "Series Q Shares") on March 2, 2015 at the cash redemption price of
$25.615068 per Series Q Share, for
total redemption proceeds of approximately $205 million.
The cash redemption price in each case represents the sum of the
redemption amount of $25.50 per
share, plus an amount equal to the applicable quarterly cash
dividend pro rated for the period from and including January 31, 2015 to but excluding March 2, 2015. Regular quarterly dividends of
$0.328125 per Series P Share and
$0.35 per Series Q Share will be paid
in the usual manner on January 31,
2015 to shareholders of record on January 8, 2015, as previously announced.
From and after March 2, 2015, the
Series P Shares and Series Q 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 applicable cash redemption
price.
Beneficial holders who are not directly the registered holder of
Series P Shares or Series Q 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. Instructions with respect to receipt of the
redemption amount will be set out in the Letter of Transmittal to
be mailed to registered holders of the Series P Shares and Series Q
Shares shortly. Inquiries should be directed to our Registrar and
Transfer Agent, CST 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 branches and serves more than
23 million customers in three key businesses operating in a number
of locations in financial centres around the globe: Canadian
Retail, including TD Canada Trust, TD Auto Finance Canada, TD
Wealth (Canada), TD Direct
Investing, and TD Insurance; U.S. Retail, including TD Bank,
America's Most Convenient Bank, TD Auto Finance U.S., TD Wealth
(U.S.), and an investment in TD Ameritrade; and Wholesale Banking,
including TD Securities. TD also ranks among the world's leading
online financial services firms, with approximately 9.4 million
active online and mobile customers. TD had CDN$945 billion in assets on October 31, 2014. The Toronto-Dominion Bank
trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
SOURCE TD Bank Group