The raises continue to roll in this year as another one of my Canadian bank holdings came through in a big way! This raise is the first one for the month of March for me, which is an excellent start to the month!
The raise announced yesterday comes from Toronto Dominion Bank (TD). I am a lifelong TD bank customer so it is fun using their services while also getting paid! TD raises its Canadian dollar dividend from $.55/share a quarter to $.60/share. This represents an excellent 9.09% raise.
I own 30 shares of TD in my Roth IRA account so with an exchange rate of 1 US Dollar = .75 CND dollars, this will add $4.50 to my forward 12-month income stream. Some of you may notice I did the currency translation differently than the last raise article and BNS. I’m still working out the kinks!
2017 Raises to Date
January – Realty Income (O) – 3.8% raise - $7.92
February – Cisco (CSCO) – 11.54% raise - $6.60
February – Wal-Mart (WMT) – 2.0% raise - $2.20
February – Eaton Corp (ETN) – 5.26% raise - $3.60
February – Bank of Nova Scotia – 2.7% raise - $1.20
March – Toronto Dominion Bank – 9.09% raise - $4.50
2017 Total Income Added via Dividend Increases - $26.02
To illustrate the impact of dividend raises, at a 3% yield it would take an investment of $867.33 to achieve this level new income.