TD Bank Group says it has received approval from the Office of the Superintendent of Financial Institutions Canada for its plan to buy back up to $10 billion worth of its shares.
The lender says the new buyback program will begin on Oct. 9 after being announced in September.
At the time, TD announced it planned to repurchase up to 61 million of its shares under a program it expects to complete by July next year.
The new buyback will represent up to 3.74 per cent of the bank’s issued and outstanding shares as of Aug. 31.
TD previously stated that it plans to cancel all of the purchased shares.
By buying back its shares, the bank reduces its equity base, spreading profits over fewer shares, increasing its return on equity and earnings per share, two key ratios used to assess its financial health.
This report by The Canadian Press was first published Oct. 8, 2026.
Companies in this story: (TSX:TD)
The Canadian Press
