The Best High-Yield Bank Stock to Invest $500 in Right Now

Toronto-Dominion Bank (NYSE: TD), often called TD Bank, has a huge 5.1% dividend yield. Stocks in the S&P 500 yield a scant 1.2% on average, and the average bank is only offering 2.3%. If you are looking for a high-yield bank investment, TD Bank should be sitting near the top of your research list.If you have $500 (or any amount, really) in available cash that isn't needed to pay monthly bills, reduce short-term debt, or bolster an emergency fund, you might want to consider putting it toward an investment in this stock. Here's why.Getting the ugly news out right up front, TD Bank allowed its U.S. division to be used for money laundering. That's bad -- no, that's very bad. The bank's internal controls simply weren't up to the task of catching the problem, which amounted to its employees agreeing to work for illicit purposes. U.S. regulators figured all this out, which is a good thing in some respects, and have held TD Bank accountable for its shortfalls.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool