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TD Bank Announces Redemption of Non-Cumulative 5-Year Rate Reset Class A First Preferred Shares, Series 7 (NVCC)
TD Bank Announces Redemption of Non-Cumulative 5-Year Rate Reset Class A First Preferred Shares, ...
About this update from Toronto-dominion Bank
[{"type":"text","content":"\n\n\n\n TD Bank Announces Redemption of Non-Cumulative 5-Year Rate Reset Class A First Preferred Shares, Series 7 (NVCC)\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n June 23, 2025\n \n\n /CNW/ - The Toronto-Dominion Bank (\"TD Bank Group\" or \"TD\") announced today that it will exercise its right to redeem all of its 14 ,000,000 outstanding Non-Cumulative 5-Year Rate Reset Class A First Preferred Shares, Series 7 (Non-Viability Contingent Capital) (the \"Series 7 Shares\") on\n \n July 31, 2025\n \n at the price of\n \n $25.00\n \n per Series 7 Share for an aggregate total of approximately\n \n $350 million\n \n . The redemption has been approved by the Office of the Superintendent of Financial Institutions.\n \n\n On\n \n May 22, 2025\n \n , TD announced that dividends of\n \n $0.2000625\n \n per Series 7 Share had been declared as payable on and after\n \n July 31, 2025\n \n to shareholders of record at the close of business on\n \n July 10, 2025\n \n . These will be the final dividends on the Series 7 Shares, and will be paid in the usual manner on\n \n July 31, 2025\n \n as previously announced. After\n \n July 31, 2025\n \n , the Series 7 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.\n \n\n Beneficial holders who are not directly the registered holder of Series 7 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, TSX Trust Company, at 1-800-387-0825 (or in\n \n Toronto\n \n 416-682-3860).\n \n\n\n About TD Bank Group\n \n\n\n 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 27.9 million customers in four key businesses operating in a number of locations in fin...