Toronto-Dominion Bank (TSE: TD) has recently announced a quarterly dividend of $1.05 per share, marking a significant update for investors. The dividend was paid on October 31, 2023, to stockholders of record as of the same day. The ex-dividend date was set for October 10, 2023. This announcement translates to an annualized dividend of $4.20 per share, representing a dividend yield of 3.3%. The bank’s current dividend payout ratio (DPR) stands at 36.33%.
In related developments, insider trading activity has drawn attention. On October 1, 2023, Ajai Bambawale, an insider at the bank, sold 7,328 shares at an average price of C$112.07, totaling approximately C$821,248.96. Following this transaction, Bambawale’s direct ownership in the bank has decreased to 800 shares, valued at around C$89,656, indicating a dramatic decline of 90.16% in their stock ownership.
Conversely, on October 6, 2023, Nathalie Palladitcheff, a director at the bank, purchased 1,000 shares at an average cost of C$112.64 per share. This acquisition represented a total investment of C$112,640. Following this purchase, Palladitcheff now holds 3,292 shares in the bank, reflecting an increase of 43.63% in their ownership.
Over the past ninety days, there has been notable insider activity, with a total of 84,384 shares sold, amounting to approximately $9,456,915. Currently, insiders own 0.08% of the bank’s stock.
Toronto-Dominion Bank is recognized as one of Canada’s two largest banks, with operations spanning three key segments: Canadian retail banking, U.S. retail banking, and wholesale banking. The bank’s U.S. operations cover a wide geographic area from Maine to Florida, with a particularly strong presence in the Northeast. Furthermore, Toronto-Dominion holds a 13% ownership interest in Charles Schwab.
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