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Toronto-Dominion Bank plans up to C$10B buyback

The earlier C$7 billion repurchase was completed September 25, 2026; the planned new program remains subject to OSFI approval.

(Neutral)

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Form Type
6-K

Rhea-AI Filing Summary

The Toronto-Dominion Bank (TD) intends, subject to approval by the Office of the Superintendent of Financial Institutions Canada (OSFI), to repurchase up to C$10 billion of its common shares, not to exceed 61 million shares. The Bank intends to complete the new buyback by July 2027. It represents up to 3.74% of the Bank’s 1,633,130,726 common shares issued and outstanding as of August 31, 2026, and purchased shares will be cancelled.

The Bank will commence the New Buyback under its existing TSX normal course issuer bid. It thereafter intends to launch a new TSX bid to continue repurchases, subject to TSX approval, and may also repurchase shares on the NYSE or other designated exchanges and published markets in Canada and the U.S. The Bank completed repurchases of C$7 billion, or 47.2 million common shares, under its existing bid on September 25, 2026.

New buyback value Up to C$10 billion Intended new common-share repurchase program
New buyback share limit 61 million common shares Maximum number of shares in the intended program
Share-count percentage Up to 3.74% Of common shares issued and outstanding as of August 31, 2026
Common shares issued and outstanding 1,633,130,726 common shares As of August 31, 2026
Completed existing buyback value C$7 billion Repurchases completed September 25, 2026
Completed existing buyback shares 47.2 million common shares Repurchases completed September 25, 2026
Intended completion By July 2027 New buyback program
normal course issuer bid regulatory
"under its existing Toronto Stock Exchange (TSX) normal course issuer bid"
A Normal Course Issuer Bid is when a company buys back its own shares from the stock market over time. This usually shows that the company believes its stock is undervalued and wants to support its price, which can be important for investors to watch.
Common Equity Tier 1 financial
"Common Equity Tier 1, Tier 1, Total Capital and Leverage ratios"
Common Equity Tier 1 is the highest-quality capital a bank holds—mainly common shares and retained profits—that acts as the primary cushion against losses. Investors use the CET1 level and ratio to judge a bank’s financial strength and regulatory standing: a bigger cushion means the bank is better able to absorb shocks, sustain payouts and borrow cheaply, much like an emergency fund for a household.
Leverage ratio financial
"Total Capital and Leverage ratios were 14.26%, 16.12%, 17.90% and 4.55%"
Leverage ratio measures how much a company relies on borrowed money compared with its own funds or assets, typically expressed as debt relative to equity or total assets. Like a homeowner with a mortgage, higher leverage can amplify returns when business is strong but also raises the chance of big losses or default if revenue falls, so investors use it to judge financial risk and resilience.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much does TD plan to spend on its new share buyback?

TD intends to repurchase up to C$10 billion of common shares, not to exceed 61 million shares. The program is subject to OSFI approval, and the Bank intends to complete it by July 2027.

How many shares did TD repurchase under its existing buyback?

The Bank completed repurchases of C$7 billion, representing 47.2 million common shares, on September 25, 2026. The repurchases were under its existing TSX normal course issuer bid, which began January 20, 2026 and may remain in effect until its scheduled expiry on January 15, 2027.

What price will TD pay for shares in the new buyback?

The purchase price will be the market price of the shares at the time of acquisition or another price permitted by the TSX, as applicable.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Learn about SEC filing dates

 

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

 

 

For the month of September, 2026.

Commission File Number: 001-14446

 

 

 

The Toronto-Dominion Bank

(Translation of registrant's name into English)

 

 

c/o General Counsel’s Office

P.O. Box 1, Toronto Dominion Centre,

Toronto, Ontario, M5K 1A2

(Address of principal executive offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

  

Form 20-F _________ Form 40-F          √         

 

This Form 6-K and the exhibits hereto are incorporated by reference into all outstanding Registration Statements of The Toronto-Dominion Bank filed with the U.S. Securities and Exchange Commission.  

 

 

 

 

 
 

EXHIBIT INDEX

 

Exhibit   Description
     
99.1   Press Release dated September 30, 2026 - TD Bank Group Announces Intention to Commence a New Share Buyback Program to Repurchase up to C$10 Billion of its Common Shares

 

 

 
 

 

FORM 6-K

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  THE TORONTO-DOMINION BANK
         
         
DATE: September 30, 2026 By:  /s/ Sue-Anne Fox  
    Name:

Sue-Anne Fox

 
    Title:  

Associate Vice President, Legal, Treasury and Corporate Securities

 

 

 

 

 

 

 

 

 EXHIBIT 99.1

 

 

TD Bank Group Announces Intention to Commence a New Share Buyback Program to Repurchase up to C$10 Billion of its Common Shares

TORONTO, September 30, 2026 /CNW/ - TD Bank Group (TD or the Bank) (TSX: TD) (NYSE: TD) announced today that, subject to the approval of the Office of the Superintendent of Financial Institutions Canada (OSFI), it intends to commence a new share buyback program to repurchase up to C$10 billion of its common shares, not to exceed 61 million common shares (New Buyback). The Bank intends to complete the New Buyback by July 2027.

The Bank completed the repurchase of C$7 billion of its common shares on September 25, 2026 (47.2 million common shares) under its existing Toronto Stock Exchange (TSX) normal course issuer bid (Existing NCIB), which commenced on January 20, 2026 and may remain in effect until its scheduled expiry on January 15, 2027.

The Bank will commence the New Buyback under its Existing NCIB. Thereafter, the Bank intends to launch a new TSX NCIB to continue repurchasing its common shares under the New Buyback, subject to TSX approval. The Bank may also repurchase its common shares on the New York Stock Exchange or other designated exchanges and published markets in Canada and the U.S. The New Buyback will represent up to 3.74% of the Bank’s 1,633,130,726 common shares issued and outstanding as at August 31, 2026.

All purchases will be made in accordance with applicable securities laws and regulatory requirements. The price paid for purchased common shares will be the market price of such shares at the time of acquisition or such other price as may be permitted by the TSX, as applicable. All purchased common shares will be cancelled.

As at July 31, 2026, the Bank's Common Equity Tier 1, Tier 1, Total Capital and Leverage ratios were 14.26%, 16.12%, 17.90% and 4.55%, respectively.

Caution Regarding Forward-Looking Statements

This document contains forward-looking statements. All such statements are made pursuant to the "safe harbour" provisions of, and are intended to be forward-looking statements under, applicable Canadian and U.S. securities legislation, including the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words such as "will", "intend", "may", and similar expressions or variations thereof, or the negative thereof, but these terms are not the exclusive means of identifying such statements. By their very nature, these forward-looking statements require the Bank to make assumptions and are subject to inherent risks and uncertainties, general and specific. Such risks and uncertainties – many of which are beyond the Bank's control and the effects of which can be difficult to predict – may cause actual results to differ materially from the expectations expressed in the forward-looking statements. Please refer to the "Risk Factors and Management" section of the Management's Discussion and Analysis in the Bank's 2025 Annual Report, as may be updated in subsequently filed quarterly reports to shareholders. All such factors, as well as other uncertainties and potential events, and the inherent uncertainty of forward-looking statements, should be considered carefully when making decisions with respect to the Bank. The Bank cautions readers not to place undue reliance on the Bank's forward-looking statements. Any forward-looking statements contained in this document represent the views of management only as of the date hereof and are presented for the purpose of assisting the Bank's shareholders and analysts in understanding the Bank's financial position, objectives and priorities and anticipated financial performance as at and for the periods ended on the dates presented, and may not be appropriate for other purposes. The Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by or on its behalf, except as required under applicable securities legislation.

About TD Bank Group

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the sixth largest bank in North America by assets and serves 28.2 million clients in four key businesses operating in a number of locations in financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Auto Finance Canada; U.S. Banking, including TD Auto Finance U.S. and TD Wealth (U.S.); Wealth Management and Insurance, including TD Wealth (Canada), TD Direct Investing and TD Insurance; and Wholesale Banking, including TD Securities and TD Cowen. TD also ranks among North America's leading digital banks, with more than 14 million active mobile users in Canada and the U.S. TD had $2.1 trillion in assets on July 31, 2026. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto Stock Exchange and New York Stock Exchange.

For further information contact:

Brooke Hales, Senior Vice President, Investor Relations, 416-307-8647, Brooke.Hales@td.com

Gabrielle Sukman, Senior Manager, Corporate and Public Affairs, 416-983-1854, Gabrielle.Sukman@td.com

 

 

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