Thursday, December 1st the Board of Directors of TD Bank Group (TD) announced a quarterly dividend increase of from C$ 0.89 to C$ 0.96 per share that’s payable January 31, 2023 to holders of record January 6, 2023. This represents a 7.87% increase over the last quarterly dividend.
With current price C$ 89.27 (yesterday's close), this raise brings their dividend yield to 4.30%.
TD Bank is a member of Canadian Dividend All Star List with a 27 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 1.6, 6.6, 7.9 and 9.2 (Canadian Dividend All-Star List)
Since I own 180 shares of TD, this will increase my portfolio's projected annual net dividend income by $27.95.
This increase was in line with my expectations and I welcome it.
This is the eighth dividend increase I received from TD since initiating a position in September 2014. During this period, the quarterly dividend has risen very nicely from $0.47 to $0.96, or 104.3%
This increase raises my YOC to 7.06%.
Summary of 2022 Dividend Increases / Cuts
Click here to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long TD
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