Toronto-Dominion Bank Granted Regulatory Green Light For New Share Repurchase Plan
Portfolio Pulse from Benzinga Newsdesk
Toronto-Dominion Bank (TD) has received approval from the Toronto Stock Exchange (TSX) and the Office of the Superintendent of Financial Institutions Canada (OSFI) for its new share repurchase plan. The bank plans to terminate its existing bid and launch a new one to repurchase up to 90 million of its common shares. The new bid will start on August 31, 2023, and end on August 30, 2024.
August 29, 2023 | 5:20 am
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POSITIVE IMPACT
Toronto-Dominion Bank's new share repurchase plan could potentially increase the value of its remaining shares by reducing the number of shares in circulation. This could have a positive impact on the bank's stock price.
Share repurchase programs are typically seen as a positive signal by the market as they reduce the number of shares in circulation, potentially increasing the value of the remaining shares. This could lead to an increase in TD's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100