Topic: How To Invest

Dividend Advisor Hotline – Friday, July 20, 2018

Article Excerpt

TORONTO-DOMINION BANK, $76.01, Toronto symbol TD, last raised its quarterly dividend by 11.7% with the May 2018 payment. Investors now receive $0.67 a share, instead of $0.60. The new annual rate of $2.68 yields 3.5%. TD has now agreed to acquire Regina-based wealth management firm Greystone Managed Investments Inc. That privately held business serves institutional investors, and has $36 billion in assets under management. The purchase will make TD the largest wealth management firm in Canada, with $393 billion in assets under management. TD will pay $729 million (70% cash and 30% in TD shares) for Greystone when it completes the purchase later this year. To put that price in context, the bank earned $3.06 billion, or $1.62 a share, in the three months ended April 30, 2018. Excluding integration costs, the new operation should add to TD’s earnings in the first year. The bank’s dividend has risen an average 10.3% annually over the last 5 years. Its TSI Dividend Sustainability Rating is Highest. OUR…

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