Stock Name: TD
Amount: CAD 0.2938
Announcement Date: 19/09/2011
Record Date: 06/10/2011
Dividend Detail:
TORONTO, Sept. 19, 2011 /CNW/ - The Toronto-Dominion Bank ("TD Bank
Group" or "TD") announced today that it will exercise its right to
redeem all of its 14 million outstanding Class A First Preferred
Shares, Series M (the "Series M Shares") on October 31, 2011 at the
price per share of $25.50 (for an aggregate total of approximately $357
million). The redemption price represents a $0.50 premium to the $25.00
per share face price.
TD also announced it will exercise its right to redeem all of its 8
million outstanding Class A First Preferred Shares, Series N (the
"Series N Shares") on October 31, 2011 at the price per share of $25.50
(for an aggregate total of approximately $204 million). The redemption
price represents a $0.50 premium to the $25.00 per share face price.
On September 1, 2011, the Board of Directors of TD declared a quarterly
dividend of $0.29375 per Series M Share and $0.2875 per Series N
Share. These will be the final dividends on the Series M Shares and
Series N Shares, respectively, and will be paid in the usual manner on
October 31, 2011 to shareholders of record on October 11, 2011, as
previously announced. After October 31, 2011, the Series M Shares and
Series N Shares will cease to be entitled to dividends and the holders
of such shares will not be entitled to exercise any right in respect
thereof except that of receiving the redemption amount.
TD recommends shareholders consult with their tax advisors to determine
the appropriate treatment and impact of the redemptions. A general
summary of the tax implications will be available shortly on our
website, www.td.com, under Investor Relations/Share Information/Preferred Shares.
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 M Shares and Series N Shares shortly. Inquiries should be
directed to our Registrar and Transfer Agent, CIBC Mellon Trust
Company, at 1-800-387-0825 (or in Toronto 416-643-5500). Beneficial
holders who are not directly the registered holder of these 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. Further details and instructions will be
posted shortly to our website, http://www.td.com/investor-relations/ir-homepage/share-information/preferred-shares/preferred.jsp.
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as
TD Bank Group. TD is the sixth largest bank in North America and serves
approximately 20 million customers in four key businesses operating in
a number of locations in key financial centres around the globe:
Canadian Personal and Commercial Banking, including TD Canada Trust, TD
Insurance and TD Auto Finance Canada; Wealth Management, including TD
Waterhouse and an investment in TD Ameritrade; U.S. Personal and
Commercial Banking, including TD Bank, America's Most Convenient Bank
and TD Auto Finance U.S.; and Wholesale Banking, including TD
Securities. TD also ranks among the world's leading online financial
services firms, with more than 7 million online customers. TD had
CDN$665 billion in assets on July 31, 2011. The Toronto-Dominion Bank
trades under the symbol "TD" on the Toronto and New York Stock
Exchanges.
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