On Thursday, December 4th, the Board of Directors of The Toronto-Dominion Bank (TD) announced a quarterly dividend increase from C$1.05 to C$1.08 per share, representing a 2.86 rise. The dividend is payable on January 31, 2026, to shareholders of record as of January 9, 2026.
TD also announced that it has moved
from an annual dividend review cycle to a semi-annual cycle to
support the alignment of shareholder return with earnings growth.
At the current price of C$123.78 (today's open), this increase will raise TD's dividend yield to 3.49%.
The Toronto-Dominion 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 6.3, 8.9, 7.1 and 8.3 (Canadian Dividend All-Star List)
As an owner of 200 shares of TD, the recent dividend increase adds $12.76 to my projected annual net dividend income.
I was expecting an increase of around six percent, so this one came in noticeably lower. However, if the company continues with semi-annual increases of a similar size going forward, then the cumulative effect would still put me in a comfortable place. In that case, I can be satisfied with the trajectory.
This recent dividend increase marks the eleventh consecutive raise I've received from TD since I initiated my first shares in September 2014. Over that time, TD's quarterly dividend has risen nicely from $0.47 to $1.08 per share, representing a total increase of 129.8%.
The moment of writing, TD’s weight of my portfolio is about 1.98% and its share of future annual dividend income is approximately 1.70%.
Following this increase, my yield on cost is 7.56%.
Summary of 2025 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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