$TD · TORONTO DOMINION BANK
TD Bank filed a Form 6-K announcing that OSFI (Canada's banking regulator) has approved its previously announced share buyback program. The program authorizes repurchase for cancellation of up to C$10 billion of common shares, capped at 61 million shares, commencing October 9, 2026.
- OSFI approved TD's new share buyback program for up to C$10 billion of common shares.
- The buyback is capped at 61 million common shares and begins October 9, 2026.
- Shares will be repurchased for cancellation, reducing the outstanding share count.
- TD had $2.1 trillion in assets as of July 31, 2026, ranking sixth largest in North America.
- The buyback was previously announced; this filing confirms regulatory approval to proceed.
Markets closed — no regular-session reaction yet; extended-hours move not captured here. Buybacks of this scale (C$10B represents ~5.2% of TD's ~$192.67B market cap) are typically viewed favorably as a capital-return signal.
A C$10 billion buyback authorization at a ~$192.67B market-cap bank is a material capital-return event that signals management confidence and directly benefits remaining shareholders through accretion
Canadian banks have been actively returning capital to shareholders via buybacks as regulatory constraints ease; TD's C$10B program is among the larger authorizations in the sector.
The buyback is subject to the 61-million-share cap; actual repurchases depend on market conditions, and TD may not complete the full C$10 billion authorization.
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