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TD Bank Announces New Share Buyback of Up to C$10 Billion
TD Bank Group announced a new share buyback program of up to C$10 billion, subject to OSFI approval, after completing a C$7 billion repurchase last week.
Why it matters
TD's announcement makes it the largest share buyback by a Canadian bank this year, a sign the lender's capital position is strong enough to return billions to shareholders despite tariff-driven economic uncertainty.
Full report
TD Bank Group (TSX/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 shares.
The bank intends to complete the new buyback by July 2027. The program would represent up to 3.74% of the bank's 1,633,130,726 common shares issued and outstanding as at August 31, 2026. All repurchased shares will be cancelled.
The move follows the completion on September 25, 2026 of the repurchase of C$7 billion of common shares (47.2 million shares) under TD's existing Toronto Stock Exchange normal course issuer bid, which commenced on January 20, 2026 and may remain in effect until January 15, 2027. The new program will initially run under the existing bid, with TD intending to launch a new TSX bid subject to TSX approval. The bank may also repurchase shares on the New York Stock Exchange and other markets in Canada and the U.S.
As at July 31, 2026, TD reported a Common Equity Tier 1 ratio of 14.26%, Tier 1 of 16.12%, Total Capital of 17.90% and a Leverage ratio of 4.55%.
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