OVERVIEW
CORE HOLDINGS
TDb Split Corp. is a corporation investing in common shares of TD Bank, a leading Canadian Financial Institution with a strong domestic presence, strong financial fundamentals and a diversified earnings base. The fund offers two types of shares, a Class A (XTD) and a Preferred (XTD.PR.A) both with the objective to pay regular monthly cash dividends.
The Toronto-Dominion Bank
The Toronto-Dominion Bank is a Canadian bank with operations and activities that are organized around three business segments: TD Canada Trust, TD Securities and TD Wealth Management. TD Canada Trust provides financial services to consumers and small and medium-sized businesses. TD Securities provides services in the areas of investment banking, merchant banking, mergers and acquisitions, fixed income, foreign exchange, derivative products, high yield, money market, equities and corporate banking. TD Wealth Management provides investment management services to institutional and retail investors, as well as global self-directed brokerage services.
OBJECTIVES
SHARE HIGHLIGHTS
Preferred Shares:
(i) to provide holders of Priority Equity Shares with cumulative preferential monthly cash dividends in the amount of $0.04375 per share to yield 5.25% annually; and
(ii) on or about the termination date of December 1, 2029 (subject to further 5 year extensions thereafter), to pay an amount of $10.00 per Priority Equity share
Class A Shares:
(i) to provide holders of Class A Shares with regular monthly cash dividends in the amount of $0.05 per Class A share if and when the net asset value per Unit exceeds $12.50; and
(ii) to permit such holders to participate in all growth in the net asset value of the Company above $10.00 per Unit
​Preferred Shares:
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Fixed, cumulative monthly distributions*
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Quality investment in a leading Global Financial Institution
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Attractive alternative to other income vehicles
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Tax efficient distributions
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Downside protection and asset coverage
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Portfolio Protection Plan
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Non-Callable before termination
Class A Shares:
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Monthly distributions*
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Quality investment in a leading Global Financial Institution
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Attractive alternative to other income vehicles
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Tax efficient distributions
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Capital appreciation potential
*For the purposes of the Income Tax Act (Canada) and any similar provincial legislation, the Company designates any and all dividends paid on both its Class A and Preferred shares as “eligible dividends” unless the Company indicates otherwise.
TOP HOLDINGS
VALUATION
The Toronto-Dominion Bank
April 15, 2024
NAV Pre-Distribution: $11.56
Distribution: $0.00
NAV Net of Distribution: $11.56
NAV + Total Distributions Paid to Date: $28.20