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TD Ameritrade Announces Dividend Despite 4Q Profit Loss
TD Ameritrade announced a 5 cents per share dividend even though they posted a 27% profit loss for their fiscal fourth quarter. Lower trading activity and increase in expenses where pointed out as major factors in the results that did not meet the expectations of Wall Street analysts. CEO Fred Tomczyk stated, “While none of us certainly expected to see the challenging environment extend this long, the fact is that it has and will likely continue to be a challenge for firms like ours moving forward.”
The dividend will cost approximately $115 annually. TDA continues to amass cash even during tough economic times with an estimated $1.1 billion in liquid assets. They have openly stated they are on the look-out for acquisitions, however have not found one that is a good fit.
TD Ameritrade stock analysis – From this multi-year weekly view we can see that TD Ameritrade stock bottomed this year under $15 per share and after earnings has climbed back above $17. Its 52-week high lies at $21.30.
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