Topic: How To Invest

Dividend Advisor Hotline – Friday, March 9, 2018

Article Excerpt

TORONTO-DOMINION BANK, $75.83, Toronto symbol TD, is Canada’s second-largest bank, with total assets of $1.26 trillion. Starting with the May 2018 payment, investors will receive quarterly dividends of $0.67 a share, up 11.7% from $0.60. The new annual rate of $2.68 yields 3.5%. Unlike the other Canadian banks, which tend to raise their dividends every three to six months, TD prefers to raise its dividend just once a year. Meantime, the bank earned $2.95 billion in its fiscal 2018 first quarter, ended January 31, 2018. That’s a 17.3% jump over the $2.56 billion a year earlier. Due to more shares outstanding, per-share earnings rose 15.2%, to $1.56 from $1.33. Those amounts exclude a one-time charge related to the new U.S. tax rules and other unusual items. On that basis, TD’s latest earnings beat the consensus estimate of $1.46. Earnings from its Canadian banking operations (58% of the total) rose 12.2%. That gain was due to strong demand for new loans from consumers and businesses,…