v3.24.1.1.u2
Equity (Tables)
 6 Months Ended
Apr. 30, 2024
Equity Disclosure [Abstract]  
Summary of Classes of Share Capital
The following table summarizes the changes
 
to the shares and other equity instruments
 
issued and outstanding,
 
and treasury instruments held as at and
 
for the
three and six months ended April 30, 2024 and
 
April 30, 2023.
Shares and Other Equity Instruments
 
Issued and Outstanding and Treasury Instruments
 
Held
(millions of shares or other equity instruments
and millions of Canadian dollars)
For the three months ended
For the six months ended
 
April 30, 2024
April 30, 2023
April 30, 2024
April 30, 2023
Number
Number
Number
Number
of shares
Amount
of shares
Amount
of shares
Amount
of shares
Amount
Common Shares
Balance as at beginning of period
1,772.8
$
25,318
1,830.0
$
25,094
1,791.4
$
25,434
1,821.7
$
24,363
Proceeds from shares issued on exercise
of stock options
0.4
24
0.7
45
1.0
66
1.1
71
Shares issued as a result of dividend
reinvestment plan
1.6
132
8.9
713
3.3
269
16.8
1,418
Purchase of shares for cancellation and other
(15.2)
(217)
–
–
(36.1)
(512)
–
–
Balance as at end of period – common shares
1,759.6
$
25,257
1,839.6
$
25,852
1,759.6
$
25,257
1,839.6
$
25,852
Preferred Shares and Other Equity Instruments
Preferred Shares – Class A
Balance as at beginning of period
143.6
$
5,200
159.6
$
5,600
143.6
$
5,200
159.6
$
5,600
Redemption of shares
1
(14.0)
(350)
–
–
(14.0)
(350)
–
–
Balance as at end of period
129.6
$
4,850
159.6
$
5,600
129.6
$
4,850
159.6
$
5,600
Other Equity Instruments
2
Balance
 
as at beginning and end of period
5.0
$
5,653
5.0
$
5,653
5.0
$
5,653
5.0
$
5,653
Balance as at end of period – preferred
 
shares
and other equity instruments
134.6
$
10,503
164.6
$
11,253
134.6
$
10,503
164.6
$
11,253
Treasury – common shares
3
Balance
 
as at beginning of period
0.7
$
(58)
1.1
$
(103)
0.7
$
(64)
1.0
$
(91)
Purchase of shares
 
26.7
(2,154)
26.5
(2,235)
64.2
(5,250)
46.9
(4,051)
Sale of shares
(27.1)
2,188
(26.5)
2,239
(64.6)
5,290
(46.8)
4,043
Balance as at end of period – treasury
– common shares
0.3
$
(24)
1.1
$
(99)
0.3
$
(24)
1.1
$
(99)
Treasury – preferred shares and
other equity instruments
3
Balance as at beginning of period
0.1
$
(27)
0.1
$
(9)
0.1
$
(65)
0.1
$
(7)
Purchase of shares and other equity instruments
 
1.5
(153)
1.0
(185)
3.2
(251)
2.0
(326)
Sale of shares and other equity instruments
(1.5)
172
(1.0)
184
(3.2)
308
(2.0)
323
Balance as at end of period – treasury
– preferred shares and other equity
 
instruments
0.1
$
(8)
0.1
$
(10)
0.1
$
(8)
0.1
$
(10)
1
 
On April 30, 2024, the Bank redeemed all of its
14
 
million outstanding Non-Cumulative 5-Year
 
Rate Reset Class A First Preferred Shares NVCC, Series 22 (“Series 22 Preferred Shares”),
at a redemption price of $
25.00
 
per Series 22 Preferred Share, for a total redemption cost of $
350
 
million.
2
 
For Limited Recourse Capital Notes, the number of shares represents the number of notes issued.
3
 
When the Bank purchases its own equity instruments as part of its trading business, they are classified as treasury
 
instruments and the cost of these instruments is recorded as a
reduction in equity.