TORONTO, July 2, 2019 /CNW/ - The Toronto-Dominion Bank
("TD Bank Group" or "TD") announced today the applicable dividend
rates for its Non-Cumulative 5-Year Rate Reset Preferred Shares,
Series 3 (Non-Viability Contingent Capital (NVCC)) (the "Series 3
Shares") and Non-Cumulative Floating Rate Preferred Shares, Series
4 (NVCC) (the "Series 4 Shares").
With respect to any Series 3 Shares that remain outstanding
after July 31, 2019, holders of the
Series 3 Shares will be entitled to receive quarterly fixed
non-cumulative preferential cash dividends, as and when declared by
the Board of Directors of TD, subject to the provisions of the
Bank Act (Canada).
The dividend rate for the 5-year period from and including
July 31, 2019 to but excluding
July 31, 2024 will be 3.681%, being
equal to the 5-Year Government of Canada bond yield determined as at
July 2, 2019 plus 2.27%, as
determined in accordance with the terms of the Series 3 Shares.
With respect to any Series 4 Shares that may be issued on
July 31, 2019, holders of the Series
4 Shares will be entitled to receive quarterly floating rate
non-cumulative preferential cash dividends, calculated on the basis
of the actual number of days elapsed in such quarterly period
divided by 365, as and when declared by the Board of Directors of
TD, subject to the provisions of the Bank Act (Canada). The dividend rate for the
floating rate period from and including July
31, 2019 to but excluding October 31,
2019, will be 3.931%, being equal to the 90-day Government
of Canada Treasury Bill yield determined as of July 2, 2019 plus 2.27%, as determined in
accordance with the terms of the Series 4 Shares.
Beneficial owners of Series 3 Shares who wish to exercise their
conversion right should communicate as soon as possible with their
broker or other nominee to obtain instructions for exercising such
right on or prior to the deadline for exercise, which is
5:00 p.m. (Toronto time) on July
16, 2019.
Inquiries should be directed to TD's 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" or the
"Bank"). TD is the sixth largest bank in North America by branches and serves 26
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 13 million active
online and mobile customers. TD had $1.4 trillion in assets on
April 30, 2019. The Toronto-Dominion Bank trades under
the symbol "TD" on the Toronto and
New York Stock Exchanges.
SOURCE TD Bank Group