Investing in Dividend Growth Stocks: TD, Manulife, and TD Bank

The author is buying more of three dividend growth stocks, Toronto-Dominion Bank, Manulife Financial Corp., and another stock (not specified in the summary). They prefer the flexibility of manually reinvesting dividends rather than using a dividend reinvestment plan (DRIP). The author will be adding 15 shares of TD and 20 shares of Manulife to their model portfolio.

In a strategic move to bolster their dividend growth portfolio, an investor is increasing their holdings in three stocks: Toronto-Dominion Bank (TD), Manulife Financial Corp. (MFC), and an unspecified third stock. The investor's preference is to manually reinvest dividends rather than using a dividend reinvestment plan (DRIP). The additions to the portfolio include 15 shares of TD and 20 shares of MFC.

Toronto-Dominion Bank

Toronto-Dominion Bank (TD) is a leading financial institution with a robust presence in Canada, the United States, and internationally. The bank reported earnings per share (EPS) of $1.39 for the latest quarter, surpassing analyst expectations [1]. The company's projected annual earnings for the current year are 5.48 per share. TD's stock has a consensus rating of "Hold" with an average target price of $93.00 [1]. The bank's recent dividend increase to $0.7568 per share represents a 4.1% yield, reflecting its commitment to dividend growth [1].

Manulife Financial Corp.

Manulife Financial Corp. (MFC) is a major provider of financial services, including life insurance, wealth management, and asset management. The company has been actively involved in dividend reinvestment plans, but the investor prefers to manually reinvest dividends. MFC has a history of consistent dividend payments and is well-regarded for its stability and dividend growth potential.

Strategic Portfolio Addition

The third stock, not specified in the summary, is expected to complement the portfolio by adding diversification and potentially higher dividend yields. The investor's strategy is to manually reinvest dividends to benefit from compounding over time. This approach allows for greater control over the reinvestment process and can be particularly advantageous in a rising dividend environment.

Conclusion

By adding 15 shares of TD and 20 shares of MFC, the investor is positioning their portfolio for long-term dividend growth. The strategic choice to manually reinvest dividends highlights a preference for active management and the potential for enhanced returns through compounding. The unspecified third stock is expected to further diversify the portfolio, providing additional opportunities for growth and income.

References

[1] https://www.marketbeat.com/instant-alerts/filing-sustainable-insight-capital-management-llc-takes-position-in-toronto-dominion-bank-the-nysetd-2025-08-12/