OUR STRATEGY

Proven Business Model

We are deeply committed to sustaining the trust of those we serve.

    • Three core principles of our Risk Appetite

      We take risks required to build our business, but only if those risks:

      1
      Fit our business strategy
      and can be understood and managed

      2
      Do not expose the enterprise
      to any significant single loss events; we don’t “bet the bank” on any single acquisition, business or product

      3
      Do not risk harming the TD brand

    • We have diversification, scale, and a unique footprint

      $10.8 billion

      2023 Reported Earnings

      $15.1 billion

      2023 Adjusted Earnings1

      2,239

      Retail locations in North America

      39

      Cities worldwide in which TD Securities operates

      778

      Cities across North America and 6 cities globally in which TD Wealth is located

  • Illustrative maps of TD locations across North America and globally

TD’s Premium Retail Earnings Mix2

  • Canadian Personal & Commercial Banking: 44%, U.S. Retail: 37%, Wealth Management & Insurance: 14%, Wholesale Banking: 5%

  •      Canadian Personal & Commercial Banking

         U.S. Retail

         Wealth Management & Insurance

         Wholesale Banking

     

  • 95% Retail*

    5% Wholesale Banking

    * Retail = Canadian Personal & Commercial Banking, U.S. Retail, Wealth Management & Insurance

  • 2023 Snapshot

    Performance indicators focus effort, communicate our priorities, and benchmark our results against key elements of our proven business model.

    We have a strong balance sheet

    (Financial information as at October 31, 2023)

  • $2.0 trillion

    Assets

    130%

    Liquidity Coverage Ratio3

    1.88%

    Return on Risk-Weighted Assets4

  • $1.2 trillion

    Deposits

    14.4%

    CET1 Ratio3

TD Cowen adds strength and reach to TD Securities

  • TD Cowen colleagues pose for camera

  • This year, we welcomed more than 1,700 colleagues and expanded our offerings and reach through the acquisition of Cowen Inc. This is a significant step toward TD Securities’ long-term growth strategy to be a fully integrated North American Investment Bank with global reach.

DIVIDEND HISTORY

Dividend History (Canadian dollars) 1998: 0.33, 1999: 0.36, 2000: 0.46, 2001: 0.55, 2002: 0.56, 2003: 0.58, 2004: 0.68, 2005: 0.79, 2006: 0.89, 2007: 1.06, 2008: 1.18, 2009: 1.22, 2010: 1.22, 2011: 1.31, 2012: 1.45, 2013: 1.62, 2014: 1.84, 2015: 2.00, 2016: 2.16, 2017: 2.35, 2018: 2.61, 2019: 2.89, 2020: 3.11, 2021: 3.16, 2022: 3.56, 2023: 3.84

  • 167-year

    Continuous Dividend History

  • 4.6%

    2023 Dividend Yield4

  • 5.6%

    Total Shareholder Return4
    (5-year CAGR6)

Championing our Brand

In a testament to the strength of our business and the goodwill of our brand, TD earned the #1 spot in Brand Finance’s 2023 Canada 100 Report, which ranks the 100 most valuable brands in Canada. Throughout the communities we serve, the green TD shield shines bright.

  • Concert at TD Music Hall

    Marked the opening of TD Music Hall in Toronto’s historic Massey Hall concert venue.

  • TD shield on Toronto Blue Jays’ jersey

    Debuted the TD shield on the Toronto Blue Jays’ iconic jersey.

  • Exterior of TD Garden

    Extended our sponsorship with TD Garden and the Boston Bruins through to 2045.

  • PERFORMANCE INDICATORS7

    • Deliver above-peer-average total shareholder return4,9
    • Grow medium-term adjusted EPS by 7 to 10%1,4
    • Grow revenue8 faster than expenses

  • 2023 RESULTS1,7 (on an adjusted basis)

    • -6.9% vs. Canadian peer average of -11.4%9
    • -4.4% adjusted EPS growth1
    • Revenue growth of 12.3% vs. expense growth of 12.6%

  • NET INCOME

    available to common shareholders (millions of Canadian dollars)

         Reported         Adjusted1

    Net Income available to common shareholders (millions of Canadian dollars) 2018 Reported: 11,120, Adjusted: 11,897; 2019 Reported: 11,434, Adjusted: 12,251; 2020 Reported: 11,628, Adjusted: 9,701; 2021 Reported: 14,049, Adjusted: 14,400; 2022 Reported: 17,170, Adjusted: 15,166; 2023 Reported: 10,219; Adjusted: 14,580

    TD’s 5-year CAGR

    -1.7% Reported

    4.2% Adjusted1

  • DILUTED EARNINGS PER SHARE (EPS)

    (Canadian dollars)
     

         Reported         Adjusted1

    Diluted Earnings Per Share (EPS) (Canadian dollars) 2018 Reported: 6.01, Adjusted: 6.47; 2019 Reported: 6.25, Adjusted: 6.69; 2020 Reported: 6.43, Adjusted: 5.36; 2021 Reported: 7.72, Adjusted: 7.91; 2022 Reported: 9.47, Adjusted: 8.36; 2023 Reported: 5.60, Adjusted: 7.99

    TD’s 5-year CAGR

    -1.4% Reported

    4.3% Adjusted1

  • RETURN ON COMMON EQUITY4

    (percent)
     

         Reported         Adjusted1

    Return on Common Equity (4) (percent) 2018 Reported: 15.7, Adjusted: 16.9; 2019 Reported: 14.5, Adjusted: 15.6; 2020 Reported: 13.6, Adjusted: 11.4; 2021 Reported: 15.5, Adjusted: 15.9; 2022 Reported: 18.0, Adjusted: 15.9; 2023 Reported: 10.1, Adjusted: 14.4

    TD’s 2023 ROE

    10.1% Reported

    14.4% Adjusted1

1 Adjusted results are non-GAAP financial measures. Refer to “Non-GAAP and Other Financial Measures” in the “Financial Results Overview” section in the 2023 Management’s Discussion & Analysis (MD&A).
2 Reported basis excluding Corporate segment.
3 These measures have been calculated in accordance with OSFI’s Capital Adequacy Requirements and Liquidity Adequacy Requirements guidelines.
4 For additional information about this metric, refer to the Glossary in the 2023 MD&A.
5 25-year CAGR is the compound annual growth rate calculated from 1998 to 2023.
6 5-year CAGR is the compound annual growth rate calculated from 2018 to 2023.
7 Performance indicators that include an earnings component are based on TD’s full-year adjusted results (except as noted).
8 Revenue is net of insurance claims and related expenses.
9 Canadian Peers – defined as the other four big banks (RY, BMO, BNS and CM). All Peers are based on fiscal 2023 results ended October 31, 2023, closing stock prices as of October 31, 2023 and dividends paid in calendar 2023 to October 31 per Bloomberg.