TD Bank To Repurchase Up To 30 Mln Shares; Declares Dividend

(RTTNews) - Toronto-Dominion Bank or TD Bank (TD, TD.TO) announced Thursday that it intends to launch a normal course issuer bid to repurchase for cancellation up to 30 million of its common shares.

This represents around 1.6% of the 1,839,578,436 common shares issued and outstanding as of April 30. TD said it will file a notice of intention with the TSX in this regard.

The buyback is subject to the approval of the Office of the Superintendent of Financial Institutions Canada and the Toronto Stock Exchange.

Separately, TD Bank declared a dividend of 96 cents per share in the capital stock of the Bank for the quarter ending July 31, payable on and after July 31, to shareholders of record at the close of business on July 10.