TD Bank Retains Series 1 Preferred Shares

Toronto Dominion Bank (TSE:TD) has released an update.

Toronto-Dominion Bank announced that none of its Series 1 preferred shares will be converted into Series 2 shares due to insufficient shareholder interest, as fewer than the required minimum were tendered. As a result, holders will retain their Series 1 shares, which will continue to yield a 4.97% dividend rate for the next five years.

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