TD Bank to Redeem Preferred Shares
Ticker: TDBCP · Form: 6-K · Filed: Dec 26, 2024 · CIK: 947263
| Field | Detail |
|---|---|
| Company | Toronto Dominion Bank (TDBCP) |
| Form Type | 6-K |
| Filed Date | Dec 26, 2024 |
| Risk Level | low |
| Pages | 1 |
| Reading Time | 1 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: preferred-shares, redemption, capital-management
Related Tickers: TD
TL;DR
TD Bank is calling back its preferred shares on Jan 29, 2025, paying $25 plus dividends.
AI Summary
The Toronto-Dominion Bank (TD Bank Group) announced on December 23, 2024, the redemption of its Non-Cumulative 5-Year Rate Reset Class A First Preferred Shares. The redemption price for each share will be CAD $25.00, plus any accrued and unpaid dividends up to, but not including, the redemption date of January 29, 2025.
Why It Matters
This action indicates a potential shift in TD Bank's capital structure or a move to optimize its financing costs by retiring older preferred share series.
Risk Assessment
Risk Level: low — This is a standard financial action by a large bank to manage its capital structure and is not indicative of distress.
Key Numbers
- CAD $25.00 — Redemption Price (The amount TD Bank will pay per preferred share upon redemption.)
- January 29, 2025 — Redemption Date (The date on which the preferred shares will be redeemed.)
Key Players & Entities
- The Toronto-Dominion Bank (company) — Filer of the report and issuer of the preferred shares
- TD Bank Group (company) — Commonly used name for the issuer
- December 23, 2024 (date) — Date of the press release announcing the redemption
- January 29, 2025 (date) — Redemption date for the preferred shares
- CAD $25.00 (dollar_amount) — Redemption price per preferred share
FAQ
What specific series of preferred shares is being redeemed?
The Non-Cumulative 5-Year Rate Reset Class A First Preferred Shares are being redeemed.
What is the total redemption value for these shares?
The redemption price is CAD $25.00 per share, plus any accrued and unpaid dividends up to the redemption date.
When is the redemption date?
The redemption date is January 29, 2025.
What is the source of this announcement?
The announcement is from a press release dated December 23, 2024, filed as Exhibit 99.1 to the Form 6-K.
Does this redemption affect common shareholders directly?
This redemption primarily affects holders of the specific preferred share series and is a capital management action by the bank, not a direct event for common shareholders.
Filing Stats: 204 words · 1 min read · ~1 pages · Grade level 12.6 · Accepted 2024-12-23 20:34:18
Filing Documents
- tdbank6k.htm (6-K) — 12KB
- ex991.htm (EX-99.1) — 5KB
- 0001279569-24-001508.txt ( ) — 18KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. THE TORONTO-DOMINION BANK DATE: December 23, 2024 By: /s/ Caroline Cook Name: Caroline Cook Title: Associate Vice President, Legal Treasury and Corporate Securities