The Toronto-Dominion Bank is introducing a dividend reinvestment plan for TD common shareholders. The plan will be launched later this month and no brokerage or administrative fees will be charged by TD or the plan agent, CIBC Mellon Trust Company, for participation.

Under the plan, TD may elect whether the common shares will be purchased on the open market or from treasury. TD may offer a discount of up to 5% on shares issued from treasury. At this time, TD intends to issue the shares from treasury at a 2.5% discount to the market price.

“We believe that the dividend reinvestment program will provide our shareholders with a cost effective means of acquiring additional TD common shares as an alternative to receiving cash dividends,” says Chairman and CEO, A. Charles Baillie.

To ensure reinvestment of an April dividend, enrollment in the plan must occur prior to the anticipated record date of March 14, 2002. Details and enrollment information will be mailed to registered shareholders shortly and will be available starting February 26, 2002 in the Investor Information section of TD’s website.