Toronto-Dominion Bank calls C$675 million rate-reset preferreds

By Tali Rackner

Norfolk, Va., March 24 - Toronto-Dominion Bank is exercising its right to redeem all 12 million of its series AE and all 15 million of its series AG noncumulative five-year rate-reset preferred shares, according to a press release.

The AE shares will be redeemed at a price of C$25 per share, for a total of about C$300 million.

The AG shares will be redeemed at a price of C$25 per share, for a total of about C$375 million.

The preferreds will be redeemed on April 30.

The board also announced the final dividends of C$0.390625 per series AE share and C$0.390625 per series AG share, which will be paid on April 30 to holders of record on April 8.

CST Trust Co. (800 387-0825 or, in Toronto, 416 682-3860) is the registrar and transfer agent for the redemption.

The bank and financial services company is based in Toronto.

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