TD Split Inc.

TD Split Inc.

October 20, 2010 16:37 ET

TD Split Inc. Announces Quarterly Dividends on Preferred and Capital Shares, and Scheduled Redemption and Share Exchange Opportunity

TORONTO, ONTARIO--(Marketwire - Oct. 20, 2010) - TD Split Inc. (TSX:TDS.B)(TSX:TDS.PR.B) (the "Company") announced today that it has declared a quarterly dividend on its Class B Preferred Shares of $0.298563 per Class B Preferred Share and on its Class B Capital Shares of $0.24 per Class B Capital Share. The dividends are payable on November 15, 2010 to holders of record on November 1, 2010.

The Company is scheduled to wind-up on November 15, 2010 ("Redemption Date") and all of the issued and outstanding Class B Capital Shares and Class B Preferred Shares will be redeemed by the Company on the Redemption Date pursuant to the provisions attaching to the Class B Capital Shares and Class B Preferred Shares. A preliminary short form prospectus dated September 27, 2010 has been filed by the Company that provides for, amongst other things, that a holder of Class B Capital Shares may choose to continue his or her investment in the Company by electing to receive Class C Capital Shares ("New Capital Shares") of the Company in satisfaction of the Capital Share Redemption Price. In addition, an eligible holder of Class B Capital Shares who chooses to receive New Capital Shares and enters into a joint tax election with the Company may in certain circumstances obtain a full or partial tax-deferred tax election with the Company.

Details of the wind-up can be found through the notices of redemptions for both Class B Capital Shares and Class B Preferred Shares available on the Company's website at along with details of the new offering of Class C Preferred Shares and Class C Capital Shares.

The Company was established to generate dividend income for the Class B Preferred Shares while providing holders of the Class B Capital Shares with a leveraged opportunity to participate in capital appreciation from a portfolio of common shares of The Toronto-Dominion Bank. Information concerning TD Split Inc. is available on our website at

The Class B Capital Shares and Class B Preferred Shares of TD Split are listed on the Toronto Stock Exchange under the symbols TDS.B and respectively.

As noted above, a preliminary prospectus containing important information relating to the Class C Capital Shares and Class C Preferred Shares has been filed with the securities regulatory authorities in each of the provinces of Canada and is subject to completion or amendment. Copies of the preliminary prospectus may be obtained from your dealer or investment advisor. There will not be any sale or acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

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