Dividend Increase - TD Bank Group (TD)

 

Thursday, December 5th the Board of Directors of TD Bank Group (TD) announced a quarterly dividend increase of from C$1.02 to C$1.05 per share that’s payable January 31, 2025 to holders of record January 10, 2025. This represents a 2.94% increase over the last quarterly dividend.

With current price C$75.28 (yesterday's close), this raise brings their dividend yield to 5.58%.

TD Bank is a member of Canadian Dividend All Star List with a 14 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 7.9, 7.3, 8.0 and 9.0 (Canadian Dividend All-Star List)

Since I own 200 shares of TD, this will increase my portfolio's projected annual net dividend income by $12.75.

Due to the recent money laundering allegations, my expectations were not very high regarding the increase, so this announcement was even a positive surprise.

This is the tenth 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 $1.05, or 123.0%

This increase raises my Yield on Cost to 7.35%.

Summary of 2024 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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