TDb Split Corp.

TDb Split Corp.

February 25, 2009 17:27 ET

TDb Split Corp.: Financial Results to November 30, 2008

TORONTO, ONTARIO--(Marketwire - Feb. 25, 2009) - TDb Split Corp. ("TDb Split") announces annual financial results for the year ending November 30, 2008.

As at November 2008, the cumulative impact of the deterioration in financial and economic conditions created record lows in business, investor and consumer confidence and resulted in recessionary conditions throughout the world. In addition, the de-leveraging of hedge funds and other similar funds during the final months of 2008 exacerbated market volatility and losses in financial markets.

Although the Canadian financial services companies have been adversely impacted by this worldwide financial crisis, TD Bank common shares had performed relatively well up until November, 2008. TD Bank common shares suffered a 19.2% drop in the month of November, 2008 and now have declined by 33.4% since the inception of TDb Split on August 7,2007. The unit value of Company suffered a corresponding decline and was $11.35 per unit on November 30, 2008. As more fully described in previous press releases, the Company has been required to implement the Priority Equity Portfolio Protection Plan. As at November 30, 2008, the Company had 20.8% of its net assets in fixed income securities (plus cash) and the remaining 79.2% in TD Bank exposure.

TDb Split invests in common shares of TD Bank, a leading Canadian financial

Selected Financial Information from the Statement of Financial Operations:
For year ending November 30, 2008

($ Millions)
Income 1.069
Expenses (0.363)
Net investment income 0.706
Realized option premiums and gain (loss) on sale of investments (3.016)
Change in unrealized depreciation of investments (10.452)
Decrease in net assets from operations before distributions (12.762)

Comparative financial information is available in documents filed on

Contact Information

  • TDb Split Corp.
    Investor Relations
    (416) 304-4443
    Toll Free at 1-877-4-Quadra (1-877-478-2372)