Today the Board of Directors of Toronto-Dominion Bank announced a quarterly dividend increase of from CA$ 0.55 to CA$ 0.60 per share that’s payable May 1, 2017 to holders of record April 10, 2017. This represents a 9.09 % increase to regular quarterly dividends. With current price CA$ 69.50 (yesterday's close), this raise brings their dividend yield to 3.45 %.
Since I own 180 shares of TD, this will increase my portfolio's projected annual net dividend income by CA$ 26.82.
That increase rises my YOC to 4.41 %.
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Great news. The Canadian banks continue to show why they are some of the best companies/stocks to hold long term.
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