Topic: How To Invest

Dividend Advisor Hotline – Friday, May 25, 2018

Article Excerpt

TORONTO-DOMINION BANK, $76.40, Toronto symbol TD, raised its quarterly dividend 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%. The bank also reported-stronger-than-expected earnings for its fiscal 2018 second quarter, which ended April 30, 2018. If you exclude costs related to a recent acquisition, TD’s overall earnings jumped 19.6% in the quarter to $3.06 billion from $2.56 billion a year earlier. Per-share earnings rose at a faster rate of 20.9%, to $1.62 from $1.34, on fewer shares outstanding. That beat the consensus estimate of $1.50. Earnings from Canadian banking operations (60% of the total) rose 16.8%. That gain was due to higher interest rates and fewer bad loans. TD’s wealth management business also saw strong growth. In addition, earnings from U.S. banking (32%) improved 15.9%. That’s partly because TD and its 42%-owned TD Ameritrade Holding Corp. (Nasdaq symbol AMTD) recently acquired Scottrade Bank. The firm offers retail banking and discount…