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TD shareholders draw first blood in fight for investor proxy access Add to ...

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Shareholders of Toronto-Dominion Bank have struck a symbolic blow in favour of a broader push to give large institutional investors more sway in naming company directors.

A shareholder proposal urging the bank to adopt a proxy-access bylaw narrowly passed at TD’s annual meeting on Thursday, with 52.2 per cent support. It was the first proxy-access proposal put forward at any Canadian company, according to shareholder services firm Kingsdale Advisors.

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