Toronto-Dominion Bank Stock Is Still on Sale. Is It Right for You?
While the Great Recession was leading to dividend cuts at dominant U.S. banks like Citi and Bank of America, Toronto-Dominion Bank (NYSE: TD) held its dividend steady. That's a testament to TD Bank's strength and historically conservative business model.
Today the dividend yield is a relatively generous 4.3%, which investors shouldn't ignore, as it is near the highest levels of the last decade. Put simply, the stock, which has fallen 20% from its 52-week highs, looks like it is on sale today.
One of the first things to know about TD Bank is that it's based out of Canada. While that means that U.S. investors have to pay Canadian taxes on any dividend received, it also speaks to the core ethos of the bank's management. Canada's banks are highly regulated businesses.
Source Fool.com
