1 position in customer satisfaction with mobile banking apps according to JD Power. For example, during the bank's fiscal third-quarter 2023 earnings conference, management highlighted that it had achieved the No. TD Dividend Per Share (Annual) data by YCharts The boring business is hiding an exciting oneįrom a top-down perspective, TD Bank looks like a very typical big bank. The yield today is roughly 4.6%, which compares favorably to some of the largest U.S.-based banks. And while its dividend hasn't been increased every year (partly thanks to heavy-handed Canadian regulation), it has a solid track record of regular increases. In fact, TD traces its history back to 1855. regulators chose not to approve a merger, the company has a long and successful history behind it. It is also building up its position in the investment sphere, most recently with the purchase of investment bank Cohen.Īlthough the company recently suffered a setback when U.S. It is a top-10 bank in North America, with sizable wealth management and insurance operations as well. While the company has fairly broad exposure across Canada, it is largely an East Coast bank in the United States, so there is material growth opportunity for it in that market. In the United States, where the company calls itself "America's most convenient bank," TD is No. Effectively, the Canadian government forces the country's largest banks to operate in a highly conservative manner and have limited merger and acquisition activity, leading the biggest names to have entrenched industry positions. This business provides a solid foundation for the bank because the Canadian market is highly regulated. In that market it is the second-largest bank by deposits. Toronto-Dominion Bank, which is more commonly called TD Bank in the U.S., hails from Canada. Canada's Toronto-Dominion Bank (NYSE: TD) is upending its own business so it remains a finance leader for years to come. Banks, which are by design pretty staid and boring, are facing a technology challenge, as more and more customers shift online. It's a classic tale of disruption, which every industry is likely to face at some point if it stagnates. One business story that gets pulled out with painful regularity is the buggy whip, which was a big business until automobiles destroyed the industry.
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