TORONTO, Oct. 1, 2013 /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 Y (the
"Series Y Shares") and Non-Cumulative Floating Rate Preferred Shares,
Series Z (the "Series Z Shares").
With respect to any Series Y Shares that remain outstanding after
October 31, 2013, holders of the Series Y 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
October 31, 2013 to but excluding October 31, 2018 will be 3.5595%,
being equal to the 5-Year Government of Canada bond yield determined as
at October 1, 2013 plus 1.68%, as determined in accordance with the
terms of the Series Y Shares.
With respect to any Series Z Shares that may be issued on October 31,
2013, holders of the Series Z 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 October 31, 2013 to but excluding January 31, 2014 will be
2.666%, being equal to the 90-day Government of Canada Treasury Bill
yield determined as of October 1, 2013 plus 1.68%, as determined in
accordance with the terms of the Series Z Shares.
Beneficial owners of Series Y 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 October 16, 2013.
Inquiries should be directed to TD's Registrar and Transfer Agent, CST
Trust Company, 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). TD is the sixth largest bank in North America by
branches and serves approximately 22 million customers in four key
businesses operating in a number of locations in key financial centres
around the globe: Canadian Personal and Commercial Banking, including
TD Canada Trust and TD Auto Finance Canada; Wealth and Insurance,
including TD Wealth, TD Direct Investing, an investment in TD
Ameritrade, and TD Insurance; U.S. Personal and Commercial Banking,
including TD Bank, America's Most Convenient Bank and TD Auto Finance
U.S.; and Wholesale Banking, including TD Securities. TD also ranks
among the world's leading online financial services firms, with
approximately 8 million active online and mobile customers. TD had
CDN$835 billion in assets on July 31, 2013. The Toronto-Dominion Bank
trades under the symbol "TD" on the Toronto and New York Stock
SOURCE: TD Bank Group
For further information:
Senior Vice President, Investor Relations
Ali Duncan Martin
Manager, Media Relations