Toronto-Dominion Bank Lifts Common Stock Dividend

On a wave of improved fundamentals for Canadian lenders, Toronto-Dominion Bank has elected to boost its shareholder payout. The company declared a quarterly common stock distribution of C$0.85 ($0.81) per share, to be paid on October 31 to shareholders of record as of October 3. That amount is incrementally higher than the financial services group's previous payout, which equated to $0.77, and was dispensed at the end of July.

The firm also declared dividends for numerous series of its class A preferred shares. These range from C$0.164 ($0.156) for series T, to C$0.390625 ($0.372360) apiece for series AE, AG, AI, and AK.

The common stock dividend now annualizes to $3.24 per share in U.S. currency. That yields 3.8% at Toronto-Dominion Bank's current stock price of $85.35.

The article Toronto-Dominion Bank Lifts Common Stock Dividend originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in Toronto-Dominion Bank. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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