Sponsored Companies

TD Securities Sponsored Companies are special purpose public issuers of securities that have been designed to meet certain targeted investment objectives.

The issuers are "split share companies," which hold a portfolio of securities of an individual company or group of companies and "split" the lower risk income stream on the underlying portfolio from the changes in portfolio value.

• The preferred shares provide holders with a return derived from the dividend income received on the underlying portfolio.
• The capital shares provide holders with a leveraged investment - the value of which is linked to changes in the market prices of the shares in the portfolio and to increases in the dividends received on the portfolio shares.

Both the preferred and capital shares are listed and publicly traded on the Toronto Stock Exchange (TSX). The net proceeds from the initial public offerings of preferred and capital shares of the split share companies were used to acquire the underlying portfolios.