TD Bank Group Announces Intention To Repurchase For Cancellation Up To 90M Of Its Common Shares

Author: Benzinga Newsdesk | August 24, 2023 06:45am

TORONTO, Aug. 24, 2023 /CNW/ - TD Bank Group (TD) (TSX:TD) announced today that upon the completion of the repurchase for cancellation of 30 million of its common shares under its existing normal course issuer bid, it intends to terminate its existing normal course issuer bid and, subject to the approval of the Office of the Superintendent of Financial Institutions Canada (OSFI) and the Toronto Stock Exchange (TSX), it intends to launch a new normal course issuer bid to repurchase for cancellation up to 90 million of its common shares, representing approximately 4.9% of the 1,827,456,863 common shares issued and outstanding as at July 31, 2023. TD will file a notice of intention with the TSX in this regard.

TD's existing normal course issuer bid to repurchase up to 30 million of its common shares commenced on June 26, 2023 and was scheduled to terminate on June 25, 2024, unless terminated earlier in accordance with its terms. Upon the completion of the repurchase of all 30 million of its common shares under its existing normal course issuer bid, TD now intends to launch a new normal course issuer bid to repurchase for cancellation up to 90 million of its common shares. TD's existing normal course issuer bid will be terminated prior to commencing purchases under the new normal course issuer bid.

Posted In: TD TSX:TD