Should You Buy TD (TSX:TD) Stock or Enbridge (TSX:ENB) Stock Now?
Toronto-Dominion Bank (TSX:TD)(NYSE:TD) and Enbridge (TSX:ENB)(NYSE:ENB) are two of Canada’s top dividend stocks. Is one a better buy right now for your self-directed TFSA or RRSP portfolio?
TD is set to report fiscal Q4 2021 results on December 2. Investors are waiting to see if the bank will raise its dividend and announce a new share-buyback plan now that the government has given Canadian financial companies the green light to restart these activities.
Banks had to halt their dividend hikes in 2020. TD’s compound annual dividend-growth rate was better than 10% over the previous 20 years, so investors could see a 20% distribution increase to make up for the last two years. TD is sitting on extra cash it set aside to cover potential loan defaults during the pandemic. …
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