Topic: How To Invest

Dividend Advisor Hotline – Friday, May 30, 2025

Article Excerpt

TORONTO-DOMINION BANK, $94.77, Toronto symbol TD, remains a buy for patient, income-seeking investors. With the January 2025 payment, TD raised your quarterly dividend by 2.9%, to $1.05 a share from $1.02. The new annual rate of $4.20 yields a solid 4.4%. The bank recently settled charges over lapses in the anti-money laundering processes at its U.S. retail banking operations. As a result, it paid a fine of $3.09 billion U.S. The settlement also imposed an asset cap on TD’s U.S. retail banking operations. That will prevent TD from opening new branches, making acquisitions or expanding its loan portfolios without the permission of regulators. In response, the bank will close 38 branches across 10 states and Washington, D.C. It will still have over 1,000 locations in the U.S., mainly in the Northeast and Atlantic Seaboard. TD also sold its entire 10.1% stake in Charles Schwab Corp. (New York SCHW) for about $14 billion U.S. (or $20 billion Canadian). It will use $8 billion of that cash…