I swooped in and picked up 16 shares of Toronto Dominion (TD) this afternoon. The shares were bought at $80.315 + commission in my ROTH IRA to avoid withholding taxes. This amounts to a yield of 3.56% and about $46.08 annual income depending on exchange rates.
I've spent time thinking about my portfolio and what I can do to keep it balanced. It's painfully obvious I am lacking financials and foreign stocks. TD makes sense because it fills both needs. I want foreign stocks to diversify away from the the US dollar more than attempting to capture foreign business. I figure international powerhouses such as MCD, JNJ, and KO cover the globe rather well.
Frankly, financials is a sector I do not like. I do not trust large U.S. banks, some of which needed to be bailed out in recent years. How ridiculous is that? It wasn't just a bank here and there, it was widespread. Something is wrong with the whole system. Luckily our friends to the north do banking right. I don't feel like describing it all right now, but Canadian banks didn't need bailouts. The major Canadian banks did not cut or eliminate dividends during the crisis. Yes the dividends were frozen temporarily, but that is a BIG difference from cutting.
If anyone out there uses TD Ameritrade for a broker, please start day trading to pad my dividend income...