TORONTO, June 5, 2018 /CNW/ - The
Toronto-Dominion Bank ("TD Bank Group" or "TD") announced today
that it will exercise its right to redeem all of its 5,387,491
outstanding Non-cumulative Class A First Preferred Shares, Series S
(the "Series S Shares") on July 31,
2018 at the price of $25.00
per Series S Share, for an aggregate total of approximately
$135 million.
TD also announced that it will exercise its right to redeem all
of its 4,612,509 outstanding Non-cumulative Class A First Preferred
Shares, Series T (the "Series T Shares") on July 31, 2018 at the price of $25.00 per Series T Share, for an aggregate total
of approximately $115 million.
On May 24, 2018, TD announced that
dividends of $0.2106875 per Series S
Share and $0.16787500 per Series T
Share had been declared. These will be the final dividends on
the Series S Shares and Series T Shares, respectively, and will be
paid in the usual manner on July 31,
2018 to shareholders of record on July 10, 2018, as previously announced. After
July 31, 2018, the Series S Shares
and Series T 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.
With the announcement of the redemption of the Series S Shares
and Series T Shares, the right of any holder of Series S Shares or
Series T Shares to convert such shares will cease and
terminate.
Beneficial holders who are not directly the registered holder of
Series S Shares or Series T 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, AST Trust Company (Canada), 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"). TD is
the sixth largest bank in North
America by branches and serves more than 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 12 million active
online and mobile customers. TD had $1.3
trillion in assets on April 30,
2018. The Toronto-Dominion Bank trades under the symbol "TD"
on the Toronto and New York Stock
Exchanges.
SOURCE TD Bank Group