Toronto-Dominion Bank (TSE: TD) has recently updated its financial landscape with the announcement of a quarterly dividend and notable insider trading activity. On October 31, 2023, the bank paid a dividend of $1.05 per share to shareholders of record, reflecting an annualized dividend of $4.20 and a yield of 3.3%. The ex-dividend date was set for October 10, 2023, indicating the importance of timely investment for potential dividend recipients.
Insider Trading Activities
Recent transactions involving company insiders have highlighted shifts in stock ownership. On October 1, 2023, Ajai Bambawale sold 7,328 shares of Toronto-Dominion Bank at an average price of C$112.07. This sale amounted to a total value of C$821,248.96 and resulted in a dramatic 90.16% decrease in his ownership, leaving him with 800 shares valued at approximately C$89,656.
In contrast, Nathalie Palladitcheff, a Director at the bank, increased her stake by purchasing 1,000 shares on October 6, 2023, at an average cost of C$112.64 per share. This transaction totaled C$112,640.00, raising her total holdings to 3,292 shares, valued at around C$370,810.88.
Over the past ninety days, insiders have sold a total of 84,384 shares, valued at approximately $9,456,915. It is important to note that insiders currently hold only 0.08% of the bank’s stock, suggesting a significant level of activity regarding their shares.
Overview of Toronto-Dominion Bank Operations
Toronto-Dominion Bank stands as one of Canada’s largest financial institutions, operating through three main segments: Canadian retail banking, U.S. retail banking, and wholesale banking. Its U.S. operations extend from Maine to Florida, with a strong foothold in the Northeast. Additionally, the bank holds a 13% ownership stake in Charles Schwab, further diversifying its investment portfolio.
These recent developments reflect Toronto-Dominion Bank’s ongoing commitment to returning value to shareholders while navigating a complex financial landscape. Investors and analysts will be watching closely as the bank continues to adapt its strategies in response to market conditions.
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