Canadian Stock #7 -
Toronto-Dominion Bank (TD)
Some financials are still risky investments right now, but Toronto-Dominion Bank (TD)
is a stable and highly profitable pick for any portfolio. With 2,600 automated banking machines and a network of 1,116 branches located in Canada, this Toronto-based company definitely has the size to compete with the financial heavyweights — but unlike some of its counterparts in the U.S., it never needed a government lifeline to stay afloat even in the depths of the recession. According to World Economic Forum, Canada has the world’s “soundest” banking system, and it is the only country in the G7 that did not have to come to the aid of its financial sector with a state sponsored bailout.
TD continues to post strong earnings and growing profits quarter after quarter, and boasts very nice dividend yield of 3.7%. That makes Toronto-Dominion a financial stock you can take to the bank.
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