TD Bank Group Announces $10 Billion Share Buyback Plan

TD Bank Group announced plans to repurchase up to 61 million of its shares in a program valued at up to $10 billion. The initiative aims to reduce the bank's equity base to increase its earnings per share and return on equity. The bank intends to cancel all purchased shares, which would represent up to 3.74 percent of its issued and outstanding shares as of August 31.

This new program follows a previous buyback effort that began on January 20. Through that initial program, the bank spent $7 billion to repurchase 47.2 million shares as of September 25.

The current plan is subject to approval by the Office of the Superintendent of Financial Institutions Canada. If approved, TD Bank Group expects to complete the repurchases by July 2027.