TD Bank to buy back up to $10-billion of its shares
TD Bank Group has announced a new share buyback program to repurchase up to $10 billion of its common shares by July next year. This move aims to reduce the bank's equity base and improve key financial ratios like return on equity and earnings per share.
Why it matters
Large-scale buybacks are a key indicator of a company's capital allocation strategy and confidence in its financial health.
TD Bank Group says the plan is to repurchase up to 61 million of its shares. Alex Lupul/The Canadian Press
TD Bank Group TD-T says it plans to buy back up to $10-billion worth of its shares.
The bank says the plan is to repurchase up to 61 million of its shares under a program it expects to complete by July next year.
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