TORONTO, Oct. 16,
2024 /CNW/ - The Toronto-Dominion Bank ("TD")
announced today that none of its 20 million Non-Cumulative 5-Year
Rate Reset Class A First Preferred Shares, Series 1 (Non-Viability
Contingent Capital (NVCC)) (the "Series 1 Shares") will be
converted on October 31, 2024 into
Non-Cumulative Floating Rate Class A First Preferred Shares, Series
2 (NVCC) (the "Series 2 Shares") of TD.
During the conversion period, which ran from October 1, 2024 to October
16, 2024, 312,011 Series 1 Shares were tendered for
conversion into Series 2 Shares, which is less than the minimum
1,000,000 shares required to give effect to the conversion, as
described in the prospectus supplement for the Series 1 Shares
dated May 28, 2014. As a result, no
Series 2 Shares will be issued on October
31, 2024 and holders of Series 1 Shares will retain their
Series 1 Shares.
The Series 1 Shares are currently listed on the Toronto Stock
Exchange under the symbol TD.PF.A. As previously announced on
October 1, 2024, the dividend rate
for the Series 1 Shares for the 5-year period from and including
October 31, 2024 to but excluding
October 31, 2029 will be 4.97%.
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 July 31, 2024. The
Toronto-Dominion Bank trades under the symbol "TD" on the
Toronto and New York Stock
Exchanges.
SOURCE TD Bank Group