Thursday, December 7, 2023

Dividend Increase - TD Bank Group (TD)


Thursday, November 30th the Board of Directors of TD Bank Group (TD) announced a quarterly dividend increase of from C$ 0.96 to C$ 1.02 per share that’s payable January 31, 2024 to holders of record January 10, 2024. This represents a 6.25% increase over the last quarterly dividend.

With current price C$82.13 (today's open), this raise brings their dividend yield to 4.97%.

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 12.7, 7.2, 8.7 and 9.4 (Canadian Dividend All-Star List)

Since I own 200 shares of TD, this will increase my portfolio's projected annual net dividend income by $26.38.

This increase was in line with my expectations and I welcome it.

This is the ninth 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 $1.02, or 117.0%

This increase raises my YOC to 7.14%.

Summary of 2023 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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