Topic: How To Invest

Dividend Advisor Hotline – Friday, March 10, 2017

Article Excerpt

TORONTO-DOMINION BANK, $66.00, Toronto symbol TD, is Canada’s second-largest bank with assets of $1.2 trillion. The bank will raise its quarterly dividend, starting with the April 2017 payment. Investors will receive $0.60 a share, up 9.1% from $0.55. The new annual rate of $2.40 yields 3.6%. TD earned $2.6 billion in its fiscal 2017 first quarter, ended January 31, 2017. That’s a 13.8% rise over $2.2 billion a year earlier. Due to more shares outstanding, per-share earnings rose 12.7%, to $1.33 from $1.18. That beats the consensus estimate of $1.27. Earnings from Canadian banking operations (60% of the total) rose 3.5% in the quarter. The gain is the result of higher loan demand, lower insurance claims, higher fee-based income and growth at the bank’s wealth management operations. Earnings from U.S. banking (30%) gained 6.5% thanks to stronger loan demand. Earnings from wholesale banking (10%) jumped 65.8% on higher securities-trading volumes and lower…