17:58:11 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Toronto-Dominion Bank
Symbol TD
Shares Issued 1,849,567,804
Close 2015-04-01 C$ 54.58
Market Cap C$ 100,949,410,742
Recent Sedar Documents

Successful Inv refreshes TD Bank buy

2015-04-02 02:43 ET - In the News

The Successful Investor, in the April, 2015, issue, refreshes its buy of Toronto-Dominion Bank, recently $54. The Investor said buy 30 times from February, 1996, to February, 2015, at prices ranging from $25 to $91 (the stock split 2 for 1 in July, 1999, and again in February, 2014). A $1,000 investment for each of the 30 buys is now worth a pleasing $77,544. Investor confidence in Canada's big banks was shaken recently by the Bank of Canada's unexpected decision to cut its benchmark interest rate. Another worry is that the recent crash in oil prices could force oil producers to default on their loans, or to lay off workers, which could lead to an increase in credit losses in Alberta. The Investor is bullish on banks despite all this. TD is its favourite because it should benefit from an improving U.S. economy; it now has more branches there than in Canada. The low Canadian dollar will further enhance U.S. profits. On top of that, TD is doing well out of a 2014 deal with Aimia to become the main credit card issuer for the Aeroplan travel reward program. The bank now trades at just 12 times its likely 2015 earnings of $4.50 a share, and its 51-cent quarterly dividend (recently raised from 47 cents) yields 3.8 per cent. Buy.

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