Topic: How To Invest

Dividend Advisor Hotline – Friday, March 10, 2023

Article Excerpt

TORONTO-DOMINION BANK, $83.77, Toronto symbol TD, is a buy. The lender raised your quarterly dividend with the January 2023 payment by 7.9%. Investors now receive $0.96 a share instead of $0.89. The new annual rate of $3.84 yields a high 4.6%. In March 2022, TD agreed to acquire U.S. banking firm First Horizon Corporation (New York symbol FHN) for $13.4 billion U.S. The purchase will make TD’s banking operations the sixth largest in the U.S. TD and First Horizon have agreed to extend the closing date to May 27, 2023. However, TD is uncertain if it can secure the necessary regulatory approvals by that date. The bank, however, did complete its $1.3 billion U.S. purchase of New York City-based investment banking firm Cowen Inc. The acquisition gives TD access to Cowen’s high-quality clientele and should boost its annual revenue from combined investment banking operations by between $300 million U.S. and $350 million U.S. by the end of the third year. TD has also agreed to…