TD Bank 2001 Annual Report Download - page 82

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80
FINANCIAL RESULTS
(millions of dollars) 2001 2000 1999
Consolidated Preferred shares
statement of changes Balance at beginning of year $ 1,251 $ 833 845
in shareholders’ equity Proceeds from share issues 225 410 –
Share redemptions –––
Translation adjustment on shares issued in a foreign currency 16 8 (12)
Balance at end of year 1,492 1,251 833
Common shares
Balance at beginning of year 2,060 2,006 1,301
Issued on acquisition of subsidiaries 181 41 –
Proceeds from shares issued for cash ––700
Proceeds from shares issued on exercise of options 18 13 5
Shares purchased for cancellation –––
Balance at end of year 2,259 2,060 2,006
Retained earnings
Balance at beginning of year 9,039 8,694 6,387
Net income 1,383 1,025 2,981
Preferred dividends (83) (56) (43)
Common dividends (684) (572) (433)
Foreign currency translation adjustments, net of income taxes 171 2 (149)
Shares purchased for cancellation –––
Stock options settled in cash, net of income taxes (39) (41) (37)
Obligations arising from adoption of new accounting standard for
employee future benefits, net of income taxes (132) ––
Other (2) (13) (12)
Balance at end of year 9,653 9,039 8,694
Total common equity 11,912 11,099 10,700
Total equity $ 13,404 $ 12,350 $ 11,533
Other statistics1
Per common share21Net income –cash basis excluding special items3$ 3.31 $ 3.16 $ 2.39
2Dividends 1.09 .92 .72
3Book value 18.97 17.83 17.25
4Closing market price 35.94 41.95 33.75
5Closing market price to book value 1.89 2.35 1.96
6Closing market price appreciation (14.3)% 24.3% 47.1%
7Total market return (11.7) 27.0 50.2
Performance ratios 8Cash return on common shareholders’ equity excluding special items318.0% 18.0% 16.7%
9Return on risk-weighted assets – cash basis excluding special items31.68 1.67 1.35
10 Efficiency ratio464.5 61.8 62.6
11 Net interest rate margin (TEB) 1.83 1.63 1.70
12 Common dividend payout ratio – cash basis excluding special items333.0 29.2 30.3
13 Dividend yield52.7 2.3 2.1
14 Price earnings ratio –cash basis excluding special items310.9 13.3 14.1
Asset quality 15 Net impaired loans as a % of net loans6–%(.1)% (.3)%
16 Net impaired loans as a % of common equity (.4) (1.4) (2.4)
17 Provision for credit losses as a % of net average loans6.71 .39 .28
Capital ratios 18 Tier 1 capital to risk-weighted assets 8.4% 7.2% 10.1%
19 Total capital to risk-weighted assets 11.9 10.8 13.3
20 Common equity to total assets 4.1 4.2 5.0
Other 21 Number of common shares outstanding (thousands)2628,451 622,616 620,343
22 Market capitalization (millions) $ 22,587 $ 26,119 $ 20,937
23 Number of employees 45,565 45,026 30,636
24 Number of domestic retail outlets71,294 1,357 904
25 Number of retail brokerage offices 276 292 269
26 Number of Automated Banking Machines 2,777 2,836 2,164