TD - Is Toronto-Dominion Bank the Best Dividend Stock for You?
2024-05-12 03:24:00 ET
If you are looking for a dividend stock, Toronto-Dominion Bank (NYSE: TD) and its 5.4% or so dividend yield might just pop up on your radar screen. After all, the S&P 500 index yields just 1.3% and the average bank about 3%. Any way you cut it, TD Bank's yield is attractive. But there are reasons for the high yield that you need to know before deciding if buying this dividend stock is the best call for you.
TD Bank, as Toronto-Dominion Bank is usually called for short, is one of the largest banks in North America, with operations in both its home market of Canada and in the U.S. The bank is the second-largest by deposits in Canada and the sixth-largest overall in North America.
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Is Toronto-Dominion Bank the Best Dividend Stock for You?