By Colin Kellaher

 

Toronto-Dominion Bank on Thursday said its board raised the quarterly dividend by 7.9%, to 96 Canadian cents (US$0.71) a share from C$0.89.

The new payout, equal to C$3.84 a year, represents an annual yield of about 4.29% based on Wednesday's closing price of C$89.53, up from about 3.98%.

The Toronto banking giant said the increased dividend is payable Jan. 31 to shareholders of record Jan. 6.

Toronto-Dominion joins fellow Canadian banks Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada and Royal Bank of Canada in raising their quarterly dividends this week.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

December 01, 2022 06:54 ET (11:54 GMT)

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