Toronto-dominion Bank · TSX:TD
Toronto-dominion Bank — TD Bank Group — Shareholder Meeting (March 2011)
66 slides from Toronto-dominion Bank's shareholder meeting presentation, Mar 31, 2011
Slide 1: The Better Bank
The Better Bank La meilleure banque Annual General Meeting Assemblée générale annuelle March 31 2011 | Victoria, BC Le 31 mars 2011 | Victoria, C.-B.
Slide 2: Meeting agenda
1. Call to Order, Chairman’s Welcome, and Other Preliminary Matters 2. Remarks from Brian Levitt Chairman of the Board 3. Remarks from Ed Clark, Group President and Chief Executive Officer 4. Annual Financial Statements and Auditors’ Report 5. Director Nominees’ Slide Show and Election of Directors
Slide 3: Simultaneous French translation notice
La totalité de la séance sera traduite simultanément en français. Les actionnaires peuvent poser des questions en anglais ou en français. Nous avons placé une paire d'écouteurs sur chaque chaise. Le canal 1 diffuse en anglais et le canal 2 diffuse en français. 3
Slide 4: Meeting agenda
1. Call to Order, Chairman’s Welcome, and Other Preliminary Matters 2. Remarks from Brian Levitt Chairman of the Board 3. Remarks from Ed Clark, Group President and Chief Executive Officer 4. Annual Financial Statements and Auditors’ Report 5. Director Nominees’ Slide Show and Election of Directors
Slide 5: Forward-looking statements
From time to time, the Bank makes written and/or oral forward-looking statements, including in this presentation, in other filings with Canadian regulators or the U.S. Securities and Exchange Commission, and in other communications. In addition, representatives of the Bank may make forward-looking s
Slide 6: Meeting agenda
1. Call to Order, Chairman’s Welcome, and Other Preliminary Matters 2. Remarks from Brian Levitt Chairman of the Board 3. Remarks from Ed Clark, Group President and Chief Executive Officer 4. Annual Financial Statements and Auditors’ Report 5. Director Nominees’ Slide Show and Election of Directors
Slide 7: Slide 7
Slide 8: The Better Bank
The Better Bank La meilleure banque
Slide 9: Adjusted Earnings and Adjusted EPS
Adjusted Earnings ($B)1 Adjusted EPS (diluted) $5.2 $5.77 +11% +8% 2010 2010 1. Based on fiscal 2010 adjusted earnings. Fiscal 2010 is defined as the period from November 1, 2009 to October 31, 2010. The Bank’s financial results prepared in accordance with GAAP are referred to as “reported” results.
Slide 10: Return on Risk Weighted Assets and 1yr Total Shareholder Return
Return on Risk 1yr Total Shareholder Return Weighted Assets Oct 31, 2009 – Oct 31, 2010 2.63% 23% 22% 1.98% 1.31% 1 2 3 2 -3% 3 1. Based on fiscal 2010 adjusted earnings as described on slide 9. Return on risk-weighted assets is adjusted net income available to common shareholders divided by average
Slide 11: U.S. East Coast footprint
Connecticut DC Delaware Florida Maine Maryland Massachusetts New Hampshire New Jersey New York 23% North Carolina Pennsylvania Rhode Island South Carolina Vermont Virginia 11
Slide 12: Adjusted EPS growth (CAGR) versus peers
CAGR $5.77 12.9% 16% 13% $2.18 2002 2010 -1% 3 4 1. See slide #9 for definition of adjusted results. Also see starting on page 9 of the 2010 Annual Report for an explanation of how the Bank reports and a reconciliation of the Bank’s non-GAAP measures to reported basis (GAAP) results on pages 146 to
Slide 13: Investment growth and dividends paid
TD Dividends Paid2 $3,400 $83 Dividends $38 $1,000 2002 2011 2002 2010 1. Represents growth in an investment of $1,000 in TD common shares on October 31, 2002, including both share price appreciation to March 25, 2011 and total dividends paid from October 31, 2002 to October 31, 2010. 2. Dividends p
Slide 14: TD growth since 2002
Retail Outlets Customers Assets and Deposits $B Employees Market Cap $B Capital Position Share Price Dividends Paid 1. Please note: TD methodology currently under Basel II; Source: Company Reports; Comparison as of 2002. 14
Slide 15: Driving Our Growth Strategy
Driving Our Growth Strategy +
Slide 16: Market share 2007 to 2010
15.3% 12.6% 2007 2010 1. Market share as of September 2007 and September 2010 per Canadian Bankers Association. 16
Slide 17: U.S. loan growth versus industry
30.4% -4.2% 1. Per US P&C - From 12/31/07 to 12/31/10 TD Bank grew loans by 30.4% while the industry declined by 4.2%. 17
Slide 18: U.S. P&C adjusted earnings
US $1B $1,042 Adjusted Earnings1,2 $909 $806 $359 $255 $158 2005 2006 2007 2008 2009 2010 1. See slide #9 for definition of adjusted results. Also see the U.S. P&C segment discussion in the Business Segment Analysis section in the 2010, 2009, 2008, 2007, and 2006 Annual Reports, and see starting on
Slide 19: Insurance premiums
Insurance Premiums $3 billion 2nd Largest Auto/Home Insurer in Canada Tripled in 7 Years 2010 19
Slide 20: Driving Our Growth Strategy
Driving Our Growth Strategy =
Slide 21: More hours and new North American outlets
50% More Hours1 53 New North American Outlets2 1. In Canada, TD branches are open 50% longer than its peers (RY, BNS, BMO and CM). In the U.S., TD’s stores are open longer than its competition in all of its markets; and, in certain markets, TD stores are open 50% longer. 2. In 2010 opened 21 branche
Slide 22: 22
22
Slide 23: Redefining Service: TD Helps
Redefining Service: TD Helps 1-866-822-6370
Slide 24: Redefining Service in the Digital Age
Redefining Service in the Digital Age TD Canada Trust TD Waterhouse ||| TD Insurance and Security | Legal
Slide 25: International equities trading markets
UK Equities Australia Belgium France Germany Hong Kong Italy Netherlands Singapore Spain 25
Slide 26: Mobile platform for investors
Mobile platform offers broadest range of tools for investors 26
Slide 27: Customer satisfaction rankings
1 2 1. TD Canada Trust – highest in customer satisfaction – J.D. Power and Associates survey in 2006, 2007, 2008, and 2009. Please see back cover of 2009 Annual Report for details. 2. TD Canada Trust – rated #1 among Canada’s five major banks for “Overall quality of customer service” by independent
Slide 28: Driving Our Growth Strategy
Driving Our Growth Strategy | 1LIC >I 3 AMcnice Wked Tayetenen a\<
Slide 29: Driving Our Growth Strategy
Driving Our Growth Strategy =
Slide 30: Driving Our Growth Strategy
Driving Our Growth Strategy a ~ Investing in the future
Slide 31: Performance Culture
Performance Culture
Slide 32: Q1 2011 adjusted earnings by segment
Total Bank Adjusted1 C$ Almost 1.6 B 11% Canadian P & C C$ 905 MM Wealth Management C$ 181 MM 1 U.S. P & C Adjusted US$ 332 MM Wholesale Banking C$ 237 MM 1. See slide #9 for a definition of adjusted results. See page 5 of the First Quarter 2011 Report to Shareholders (td.com/investor) for further e
Slide 33: 33
33
Slide 34: The Better Bank
The Better Bank La meilleure banque
Slide 35: = — oO <x = (= {3 >
= 2 — oO <x = (= {3 2 >
Slide 36: The Better Bank
The Better Bank La meilleure banque
Slide 37: Meeting agenda
1. Call to Order, Chairman’s Welcome, and Other Preliminary Matters 2. Remarks from Brian Levitt Chairman of the Board 3. Remarks from Ed Clark, Group President and Chief Executive Officer 4. Annual Financial Statements and Auditors’ Report 5. Director Nominees’ Slide Show and Election of Directors
Slide 38: Meeting agenda
1. Call to Order, Chairman’s Welcome, and Other Preliminary Matters 2. Remarks from Brian Levitt Chairman of the Board 3. Remarks from Ed Clark, Group President and Chief Executive Officer 4. Annual Financial Statements and Auditors’ Report 5. Director Nominees’ Slide Show and Election of Directors
Slide 39: 2011 Director Nominees
2011 Director Nominees Candidatures aux postes d’administrateurs en 2011 Annual General Meeting Assemblée générale annuelle March 31 2011 | Victoria, BC Le 31 mars 2011 | Victoria, C.-B.
Slide 40: Bill Bennett
Bill Bennett Chicago, Illinois • Corporate Director • Director since May 2004 • Audit Committee Chair and Risk Committee member
Slide 41: Hugh Bolton
Hugh Bolton Edmonton, Alberta • Non-executive Chair of the Board of Directors, EPCOR Utilities Inc. • Director since April 2003 • Corporate Governance Committee member
Slide 42: John Bragg
John Bragg Collingwood, Nova Scotia • Chairman, President and Co-CEO, Oxford Frozen Foods Ltd. • Director since October 2004 • Audit Committee member
Slide 43: Amy Brinkley
Amy Brinkley Charlotte, North Carolina • Consultant, AWB Consulting, LLC • Director since September 2010 • Risk Committee member
Slide 44: Wendy Dobson
Wendy Dobson Uxbridge, Ontario • Professor and Co-Director, Institute for International Business, Rotman School of Management, University of Toronto • Director since October 1990 • Risk Committee member
Slide 45: Hank Ketcham
Hank Ketcham Vancouver, British Columbia • Chairman, President and CEO, West Fraser Timber Co. Ltd. • Director since January 1999 • Human Resources Committee member
Slide 46: Pierre Lessard
Pierre Lessard Westmount, Quebec • Executive Chairman, METRO Inc. • Director since October 1997 • Human Resources Committee member
Slide 47: Harold MacKay
Harold MacKay Regina, Saskatchewan • Of counsel to the law firm MacPherson Leslie & Tyerman LLP • Director since November 2004 • Risk Committee Chair and Audit Committee member
Slide 48: Irene Miller
Irene Miller New York, New York • CEO, Akim, Inc. • Director since May 2006 • Audit Committee member
Slide 49: Nadir Mohamed
Nadir Mohamed Toronto, Ontario • President and CEO, Rogers Communications Inc. • Director since April 2008 • Audit Committee member
Slide 50: Bill Prezzano
Bill Prezzano Charleston, South Carolina • Corporate Director • Director since April 2003 • Human Resources Committee Chair and Risk Committee member
Slide 51: Helen Sinclair
Helen Sinclair Toronto, Ontario • CEO, BankWorks Trading Inc. • Director since June 1996 • Human Resources Committee member and Risk Committee member
Slide 52: Carole Taylor
Carole Taylor Vancouver, British Columbia • Corporate Director • Director since August 2009 • Risk Committee member
Slide 53: John Thompson
John Thompson Toronto, Ontario • Corporate Director • Director since August 1988 • Corporate Governance Committee member and Human Resources Committee member
Slide 54: Brian Levitt
Brian Levitt Westmount, Quebec • Non-executive Chairman of the Board • Director since December 2008 • Corporate Governance Committee Chair and Human Resources Committee member
Slide 55: Ed Clark
Ed Clark Toronto, Ontario • Group President and CEO • Director since August 2000
Slide 56: 2011 Director Nominees
2011 Director Nominees Candidatures aux postes d’administrateurs en 2011 Annual General Meeting Assemblée générale annuelle March 31 2011 | Victoria, BC Le 31 mars 2011 | Victoria, C.-B.
Slide 57: Meeting agenda
1. Call to Order, Chairman’s Welcome, and Other Preliminary Matters 2. Remarks from Brian Levitt Chairman of the Board 3. Remarks from Ed Clark, Group President and Chief Executive Officer 4. Annual Financial Statements and Auditors’ Report 5. Director Nominees’ Slide Show and Election of Directors
Slide 58: Meeting agenda
1. Call to Order, Chairman’s Welcome, and Other Preliminary Matters 2. Remarks from Brian Levitt Chairman of the Board 3. Remarks from Ed Clark, Group President and Chief Executive Officer 4. Annual Financial Statements and Auditors’ Report 5. Director Nominees’ Slide Show and Election of Directors
Slide 59: Meeting agenda
1. Call to Order, Chairman’s Welcome, and Other Preliminary Matters 2. Remarks from Brian Levitt Chairman of the Board 3. Remarks from Ed Clark, Group President and Chief Executive Officer 4. Annual Financial Statements and Auditors’ Report 5. Director Nominees’ Slide Show and Election of Directors
Slide 60: Shareholder proposal: feminine skills on the Board
Critical mass of feminine skills on the Board. Studies show that companies with a critical mass of women on their board of directors do better. Respecting the fact that institutions renew the composition of their board of directors over a period ranging from 5 years to 10 years, be it resolved that
Slide 61: Shareholder proposal: Equity Ratio
Equity Ratio. The CEO’s compensation should be justified to the employees who contribute to his success and that of the company. Be it resolved that the Board of Directors adopt a policy stipulating the internal equity ratio it considers “ethically acceptable” and that it justify this in the managem
Slide 62: Shareholder proposal: abolition of subsidiaries in tax havens
Abolition of subsidiaries and branches in tax havens. Be it resolved that the Board of Directors adopt a policy stipulating that the Bank undertakes to divest all of its subsidiaries and branches in tax havens according to the OECD definition. 62
Slide 63: Shareholder proposal: Director Share Ownership
Director Share Ownership. RESOLVED, that all independent directors, on the board of directors of TD Bank Financial Group, be obligated to retain the level of share ownership that is required of them while they are members of the board for at least two years following their respective resignations or
Slide 64: Meeting agenda
1. Call to Order, Chairman’s Welcome, and Other Preliminary Matters 2. Remarks from Brian Levitt Chairman of the Board 3. Remarks from Ed Clark, Group President and Chief Executive Officer 4. Annual Financial Statements and Auditors’ Report 5. Director Nominees’ Slide Show and Election of Directors
Slide 65: Meeting agenda
1. Call to Order, Chairman’s Welcome, and Other Preliminary Matters 2. Remarks from Brian Levitt Chairman of the Board 3. Remarks from Ed Clark, Group President and Chief Executive Officer 4. Annual Financial Statements and Auditors’ Report 5. Director Nominees’ Slide Show and Election of Directors
Slide 66: The Better Bank
The Better Bank La meilleure banque Annual General Meeting Assemblée générale annuelle March 31 2011 | Victoria, BC Le 31 mars 2011 | Victoria, C.-B.