(all amounts in Canadian dollars)
TORONTO, Feb. 27, 2020 /CNW/ - The Toronto-Dominion Bank
(the Bank) today announced that a dividend in an amount of
seventy-nine cents (79 cents) per fully paid common share in the
capital stock of the Bank has been declared for the quarter ending
April 30, 2020, payable on and after
April 30, 2020, to shareholders of
record at the close of business on April 9,
2020. This represents an increase in the quarterly dividend
of five cents or 7% compared with
last quarter.
In lieu of receiving their dividends in cash, holders of the
Bank's common shares may choose to have their dividends reinvested
in additional common shares of the Bank in accordance with the
Dividend Reinvestment Plan (the "Plan").
Under the Plan, the Bank has the discretion to either purchase
the additional common shares in the open market or issue them from
treasury. If issued from treasury, the Bank may decide to apply a
discount of up to 5% to the Average Market Price (as defined in the
Plan) of the additional shares. For the April 30, 2020 dividend, the Bank will issue the
additional shares from treasury, with no discount.
Registered holders of record of the Bank's common shares wishing
to join the Plan can obtain an Enrolment Form from AST Trust
Company (Canada) (1-800-387-0825)
or on the Bank's website, www.td.com/investor/drip.jsp. In
order to participate in the Plan in time for this dividend,
Enrolment Forms for registered holders must be received by AST
Trust Company (Canada) at P.O. Box
4229, Postal Station A, Toronto,
Ontario, M5W 0G1, or by facsimile at 1-888-488-1416,
before the close of business on April
8, 2020. Beneficial or non-registered holders of the
Bank's common shares wishing to join the Plan must contact their
financial institution or broker for instructions on how to enroll
in advance of the above date.
The Bank also announced that dividends have been declared on the
following Non-Cumulative Redeemable Class A First Preferred Shares
of the Bank, payable on and after April 30,
2020, to shareholders of record at the close of business on
April 9, 2020:
- Series 1, in an amount per share of $0.228875;
- Series 3, in an amount per share of $0.2300625;
- Series 5, in an amount per share of $0.24225;
- Series 7, in an amount per share of $0.225;
- Series 9, in an amount per share of $0.23125;
- Series 11, in an amount per share of $0.30625;
- Series 12, in an amount per share of $0.34375;
- Series 14, in an amount per share of $0.303125;
- Series 16, in an amount per share of $0.28125;
- Series 18, in an amount per share of $0.29375;
- Series 20, in an amount per share of $0.296875;
- Series 22, in an amount per share of $0.325; and
- Series 24, in an amount per share of $0.31875.
The Bank for the purposes of the Income Tax Act, Canada and any similar provincial legislation
advises that the dividend declared for the quarter ending
April 30, 2020 and all future
dividends will be eligible dividends unless indicated
otherwise.
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 over 26
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 more than 13 million active
online and mobile customers. TD had $1.5
trillion in assets on January 31,
2020. The Toronto-Dominion Bank trades under the symbol "TD"
on the Toronto and New York Stock
Exchanges.
SOURCE TD Bank Group