The Toronto-Dominion Bank Receives Regulatory Approval For Normal Course Issuer Bid To Repurchase For Cancellation Up To 30M Of Its Common Shares; Purchases Pursuant To The Notice Of Intention Filed With The TSX
Portfolio Pulse from Happy Mohamed
The Toronto-Dominion Bank (TD) has received regulatory approval from the TSX and OSFI to repurchase up to 30 million of its common shares for cancellation under a normal course issuer bid. The bid will commence on June 26, 2023, and end on June 25, 2024.
June 21, 2023 | 11:26 pm
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TD has received regulatory approval to repurchase up to 30 million common shares for cancellation, which may positively impact its stock price.
The approval for the normal course issuer bid allows TD to repurchase and cancel up to 30 million common shares. This may lead to a reduction in the number of outstanding shares, which could increase the stock price due to a higher earnings per share and increased demand for the remaining shares.
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