Toronto-Dominion Bank Dividend Increase

TD Bank

The Toronto-Dominion Bank (TD) announced a dividend increase of 7.84%. The quarterly dividend increases from C$0.51 to C$0.55 per share and payable on and after April 30, 2016, to shareholders of record at the close of business on April 8, 2016.

TD is a Dividend Challenger and this is the 6th consecutive dividend increase from the company. The annual dividend amount increases from C$2.04 to C$2.20. Yield going forward is 4.29%.

From the earnings release statement:

“We are pleased to report adjusted earnings of $2.2 billion, up 6% from the first quarter last year,” said Bharat Masrani, TD President and Chief Executive Officer. “Our performance reflects organic growth, favourable currency translation and expense management. Our first quarter results demonstrate the ability of our diversified business model to perform in a challenging environment. Looking ahead, we remain focused on driving organic growth, improving our productivity, adapting and innovating with new initiatives and investments, and helping our customers achieve their goals.”

Our portfolio consists of 50 shares of TD, which increases our annual dividends from C$102.00 to C$110.00, an increase of C$8.00.

8 thoughts on “Toronto-Dominion Bank Dividend Increase

  1. Considering the insanely weak economic conditions TD is operating in with almost every headwind imaginable an increase of this magnitude just shows the resilience of a quality company such as this. With such a high yield the dividend still remains quite safe.

    • TD is probably the best positioned right now – considering all the economic worries. They have been conservative on the oil exposure and will be the least affected in case of loan losses from those investments, exposure to US provides more tailwind….the company management has strategized very well over the years.

      R2R

  2. I wonder what sort of sales I would have to make to see a 7%+ increase in salary. Just goes to show that it’s always better to be an owner than an employee.

    I bet none of TD’s–or any bank’s–shareholders had to deal with any customers whose debit card claim got denied and came into the bank expecting to be given money that isn’t hers despite the fact that she’s obviously lying. Guess how my day started. I guess that’s why I’m trying to make the transition from active income to passive income

    By the by, the social media share bar is obscuring part of the screen on smartphones. It’s all the way on the left, but it’s actually obscuring part of the screen, including blog and comment text. Just figured you should know.

    Sincerely,
    ARB–Angry Retail Banker

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