TD Bank Group (TD,TD.TO) announced that following the completion of its $8 billion repurchase and cancellation of common shares under its existing normal course issuer bid, the Bank intends to terminate the current program.
Subject to approval from the Office of the Superintendent of Financial Institutions Canada and the Toronto Stock Exchange ("TSX"), TD plans to launch a new normal course issuer bid to repurchase for cancellation up to $7 billion of its common shares, not exceeding 61 million shares. This new program represents up to 3.63% of the 1.68 billion common shares issued and outstanding as of December 31, 2025.
The existing normal course issuer bid, which authorized the repurchase of up to 100 million common shares under TSX rules, commenced on March 3, 2025, and was scheduled to terminate on February 28, 2026, unless ended earlier. TD had previously announced its intention to deploy $8 billion from the sale of its equity investment in The Charles Schwab Corporation toward this program.
As of December 31, 2025, TD had repurchased 76.58 million common shares under the existing bid, for a total of approximately $7.53 billion.
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