Key Developments: Toronto-Dominion Bank (TD)
80.89USD
24 May 2013
$-0.31 (-0.38%)
$81.20
$80.83
$80.99
$80.54
350,631
534,452
$85.49
$72.63
Latest Key Developments (Source: Significant Developments)
Toronto-Dominion Bank Declares Dividends
Toronto-Dominion Bank announced that a dividend in an amount of USD0.81 per fully paid common share in the capital stock of the Bank has been declared for the quarter ending July 31, 2013, payable on and after July 31, 2013, to shareholders of record at the close of business on July 9, 2013. Full Article
Toronto-Dominion Bank Issues H2 2013 EBITDA Guidance Above Analysts' Estimates; Issues H2 2013 EPS And Net Income Guidance Below Analysts' Estimates
Toronto-Dominion Bank announced that second half of 2013 earnings growth to be similar to the first half of 2013. The Company reported EBITDA of $2.9 billion, EPS of $1.90 and net income of $1.84 billion in first quarter of 2013 and EBITDA of $2.2 billion, EPS of $2.00 and net income of $1.75 billion in second quarter of 2013. According to I/B/E/S Estimates, analysts are expecting the Company to report EBITDA of $2.4 billion, EPS of $2.00 and net income of $1.86 billion for third quarter of 2013; EBITDA of $2.5 billion, EPS of $1.98 and net income of $1.83 billion for fourth quarter of 2013. Full Article
Toronto-Dominion Bank Announces Intention To Repurchase For Cancellation Up To 12 Million Of Common Shares
Toronto-Dominion Bank announced 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 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. Full Article
Toronto-Dominion Bank To Buy Back Up To 12 Million Shares-Canada Stockwatch
Canada Stockwatch reported that Toronto-Dominion Bank, subject to the approval of the Office of the Superintendent of Financial Institutions Canada and the Toronto Stock Exchange, 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. Full Article
Toronto-Dominion Bank CEO Clark To Retire In 2014; Masrani To Succeed Him-Reuters
Reuters reported that Toronto-Dominion Bank's CEO Ed Clark, will step down next year and hand the reins to the bank's U.S. unit leader, Bharat Masrani. Full Article
HSBC Holdings PLC To Sell Credit Card Portfolio To Toronto-Dominion Bank's Subsidiary-Reuters
Reuters reported that HSBC Holdings PLC said it would sell its private label credit card portfolio to a wholly owned subsidiary of Toronto-Dominion Bank as it accelerates the wind-down of its consumer finance business. The portfolio was worth about CAD495 million ($485.70 million) as of February 28, 2013 HSBC Canada said in a statement, without disclosing the sale price. The sale of HSBC Retail Services Ltd to TD Financing Services Inc is expected to be completed in the third quarter of 2013. Full Article
Toronto Dominion Bank Declares Dividends
Toronto Dominion Bank announced that a dividend in an amount of eighty-one cents (81 cents) per fully paid common share in the capital stock of the Bank has been declared for the quarter ending April 30, 2013, payable on and after April 30, 2013, to shareholders of record at the close of business on April 3, 2013. This represents an increase in the quarterly dividend of four cents or five per cent compared with last quarter. Full Article
Toronto Dominion Bank Issues FY 2013 EPS Guidance Above Analysts' Estimates-Conference Call
Toronto Dominion Bank announced that for fiscal 2013, it expects earnings growth in the 7% to 10% range. The Company reported EPS of $7.42 in fiscal 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $7.88 for fiscal 2013. Full Article
Toronto Dominion Bank To Acquire Epoch Holding Corporation's Epoch Investment Partners, Inc
Epoch Holding Corp announced that it has entered into a merger agreement with Toronto Dominion Bank(TD Bank Group). The common stock of Epoch Holding Corporation, the parent of Epoch Investment Partners, Inc., will be acquired by TD Bank Group for cash consideration of approximately $668 million. Epoch stockholders will receive $28.00 in cash per share, representing a premium of approximately 28% to Epoch`s closing price on December 5, 2012. Following the completion of the transaction, Epoch will continue to operate and serve clients under its current brand name and operating structure. Epoch`s management and investment team, philosophy and process will remain the same. As part of the transaction, the leadership team of Epoch, both investment and business personnel, have entered into long-term employment agreements reinforcing their commitment to the firm. Epoch`s Board of Directors unanimously recommended this transaction to their stockholders for approval. Members of Epoch`s management team and Board of Directors, who currently collectively hold approximately 28% of Epoch`s outstanding shares, have demonstrated their support for the transaction by agreeing to vote in favor of the transaction. This transaction is expected to close in the first half of 2013. Credit Suisse served as financial advisor to Epoch. Skadden, Arps, Slate, Meagher & Flom LLP and Greenberg Traurig, LLP served as Epoch`s legal counsel. Full Article
Toronto Dominion Bank Declares Dividends
Toronto Dominion Bank announced that a dividend in an amount of 77 cents per fully paid common share in the capital stock of the Bank has been declared for the quarter ending January 31, 2013, payable on and after January 31, 2013, to shareholders of record at the close of business on January 4, 2013. The Bank also announced that dividends have been declared on the following Non-Cumulative Redeemable Class A First Preferred Shares of the Bank, payable on and after January 31, 2013, to shareholders of record at the close of business on January 8, 2013: Series O, in an amount per share of $0.303125; Series P, in an amount per share of $0.328125; Series Q, in an amount per share of $0.35; Series R, in an amount per share of $0.35; Series S, in an amount per share of $0.3125; Series Y, in an amount per share of $0.31875; Series AA, in an amount per share of $0.3125; Series AC, in an amount per share of $0.35; Series AE, in an amount per share of $0.390625; Series AG, in an amount per share of $0.390625; Series AI, in an amount per share of $0.390625; and Series AK, in an amount per share of $0.390625. Full Article
CANADA STOCKS-Stimulus rollback fears, TD trigger TSX slump
* TSX down 102.12 points, or 0.80 percent, at 12,650.38 * Energy producers off 1.3 percent * TD falls 1 percent after results By John Tilak TORONTO, May 23 - Canada's main stock index stumbled on Thursday, with every major sector in the red on concerns about a quicker-than-expected end to the U.S. Federal Reserve's stimulus program and sluggish economic data from China and Europe. Weakness in Toronto-Dominion Bank further weighed on the market after the country's N
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