The top five Canadian banks including Royal Bank of Canada (RY), Toronto-Dominion Bank (TD), Bank of Nova Scotia (BNS), Bank of Montreal (BMO) and Canadian Imperial Bank of Commerce (CM) have all been paying dividends for over 150 years.
Here is a short introduction for each of the Big Five Canadian Banks listed on New York Stock Exchange (NYSE):
- Royal Bank of Canada (RY): The largest bank in Canada by market capitalization, known for its global reach and a wide range of financial services for personal, commercial, and investment banking.
- Toronto-Dominion Bank (TD): A leading North American bank with a strong presence in the United States and Canada, offering retail banking, wealth management, and investment services.
- Bank of Nova Scotia (BNS): The third-largest Canadian bank, boasting a significant presence in the Caribbean and Latin America, along with its domestic strength in retail and corporate banking.
- Bank of Montreal (BMO): One of Canada’s oldest banks, BMO focuses on personal and commercial banking within Canada and the Midwestern United States.
- Canadian Imperial Bank of Commerce (CM): A diversified financial institution with a strong retail banking presence in Canada and a focus on wealth management and capital markets.
These banks are known for their financial stability and are considered a safe bet for investors seeking dividend-paying stocks.
Additional Canadian banks include National Bank of Canada (NA.TO), Canadian Western Bank (CWB.TO) and Equitable Bank (EQB.TO). They are all listed on Toronto Stock Exchange (TSX) which is a Canadian stock exchange located in Toronto, Ontario.
