TD Bank Group to Buyback up to 12M of its Common Shares

TD Bank Group

announced today that, 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 normal course issuer bid through the facilities of the TSX as well as through other designated exchanges and published markets in Canada to repurchase up to 12 million of its common shares, representing approximately 1.3% of the common shares currently issued and outstanding. On May 21, 2013, there were 923,873,168 common shares issued and outstanding.  TD will file a notice of intention with the TSX in this regard. TD may commence purchases after the TSX has accepted the notice of intention.  TD anticipates being in a position to repurchase shares under the bid by mid to late June 2013, continuing for up to one year.  The number of shares and timing of the repurchases under this bid will be determined by TD.  TD intends to establish an automatic share purchase plan under which its broker, TD Securities, would repurchase TD shares pursuant to the normal course issuer bid within a defined set of criteria which TD would not vary or suspend.