TORONTO, Feb. 23, 2017 /CNW/ - TD Bank Group ("TD" or
the "Bank") today announced that it has mailed its notice of annual
meeting of common shareholders and management proxy circular to
common shareholders of The Toronto-Dominion Bank. The document is
also available online at www.td.com/investor/proxy.jsp.
The management proxy circular contains information for
shareholders regarding TD's annual meeting, including exercising
voting rights on the election of TD's Board of Directors, the
appointment of TD's auditor, and shareholder proposals. Information
regarding an advisory vote by shareholders on the approach to
executive compensation is also disclosed in the management proxy
circular. The meeting will be held on March
30, 2017, at the Design Exchange in Toronto, Ontario.
The management proxy circular also contains, among other items,
a detailed description of TD's approach to executive compensation,
including the fiscal 2016 compensation of Bharat Masrani, Group
President and Chief Executive Officer.
"TD's 2016 financial performance and overall earnings growth
demonstrate the strength of our diverse business mix, organic
growth strategy and the investments the Bank made to become a more
productive and customer-focused organization," said Brian Levitt, TD's Chairman of the Board and
member of the Human Resources Committee. "TD delivered increased
reported earnings for the seventh consecutive year and increased
dividends for the sixth within our risk appetite. At the same time,
TD maintained focus on the medium to long term with substantial
investments in technology, including continued enhancements to
mobile and digital capabilities to continue to deliver a
differentiated customer experience."
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 25
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 11 million active
online and mobile customers. TD had CDN$1.2
trillion in assets on October 31,
2016. The Toronto-Dominion Bank trades under the symbol "TD"
on the Toronto and New York Stock
Exchanges.
Note on "adjusted" results and non-GAAP financial
measures
TD prepares its consolidated financial statements
in accordance with International Financial Reporting Standards
("IFRS"), the current generally accepted accounting principles
("GAAP"), and refers to results prepared in accordance with IFRS as
"reported" results. TD also utilizes non-GAAP financial measures to
arrive at "adjusted" results to assess each of its businesses and
to measure TD's overall performance. To arrive at adjusted results,
TD removes "items of note", net of income taxes, from reported
results. The items of note relate to items which management does
not believe are indicative of underlying business performance. TD
believes that adjusted results provide the reader with a better
understanding of how management views the Bank's performance.
Adjusted results, adjusted earnings, items of note and related
terms are not defined terms under IFRS and, therefore, may not be
comparable to similar terms used by other issuers. For more
information of a general nature, see "How the Bank Reports" in the
Bank's 2016 Management's Discussion & Analysis.
SOURCE TD Bank Group