
TSE:TD
Holds a residual Nov 1/17 but resets on Nov 1/12. Reset is 100 basis points over the 3 month Bankers Acceptance Rate. What happens to the residual on Nov 1/12 if TD does not call the bond? Should I sell before Nov 1? There is no question that you will get your money back on Nov 1/12 but you could sell before that.
Sees better earnings growth than on Bank of Montréal (BMO-T) but their dividend is only 3.6% compared to Montreal's, which is over 6%. Expect they will have another dividend increase this year. Likes their US acquisitions and sees good opportunities to increase loans, mortgages and other wealth management services. Looking for about $90 one year out.
(A Top Pick Aug 15/11. Up 6.51%.) His favourite Canadian bank. 10% earnings growth and 3.5% yield so it is still a buy.