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 18,000,000 outstanding Non-Cumulative 5-Year Rate
Reset Class A First Preferred Shares, Series 24 (Non-Viability
Contingent Capital) (the "Series 24 Shares") on July 31, 2024 at the price of $25.00 per Series 24 Share for an aggregate total
of approximately $450 million.
The redemption has been approved by the Office of the
Superintendent of Financial Institutions.
On May 23, 2024, TD announced that
dividends of $0.31875 per Series 24
Share had been declared. These will be the final dividends on
the Series 24 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 24 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 24 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