Toronto-Dominion Bank provides financial and banking services in North America and internationally. The company operates through Canadian Retail, U.S. Retail, and Wholesale Banking segments. The company was founded in 1855 and is based in Toronto, Canada.
Investors and analysts are bracing for massive earnings declines at Canadian banks this fiscal year, after second-quarter profits halved as they set aside billions of dollars to cover loan losses from the coronavirus pandemic and a struggling energy sector. Market watchers warned that the nearly four-fold increase in provisions, to nearly C$11 billion ($8 billion), in the three months through April may not be adequate to absorb potential loan losses at some of the top six banks, with further increases likely to weigh on performance this year. "This was the most negative quarter that I can recall seeing in 25 years," said Brian Madden, a portfolio manager at Goodreid Investment Counsel.
TORONTO , May 28, 2020 /CNW/ - The Toronto-Dominion Bank (the Bank) today announced that a dividend in an amount of seventy-nine cents ( 79 cents ) per fully paid common share in the capital stock of the Bank has been declared for the quarter ending July 31, 2020 , payable on and after July 31, 2020 , to shareholders of record at the close of business on July 10, 2020 . In lieu of receiving their dividends in cash, holders of the Bank's common shares may choose to have their dividends reinvested in additional common shares of the Bank in accordance with the Dividend Reinvestment Plan (the "Plan").