Thursday, August 30, 2012
Toronto-Dominion Bank Increases Dividend
TD announced the next quarterly dividend will be Canadian $.77 per share which is a 6.94% increase over the previous payment. This is the second boost in 2012 and the second consecutive year of dividend growth since the freeze in 2010. Overall the company has been paying dividends since 1857 which is the third longest streak in Canada (only bested by BMO and BNS). In general I am not a fan of bank stocks, but do feel comfortable holding Canadians. I see major flaws in the American banking system and am more apt to trust the policies of our friends up north. The payout ratio now stands at about 47% leaving room for future dividend growth if the company chooses to do so. I anticipate TD being a solid dividend investment and plan to buy more shares.