Carl
Whenever a company gets intense media scrutiny (good or bad) its stock price tends to overreact. For TD, it has lost about $8.5 billion in market value by the money laundering issue. It is now 9X earnings. Yes, it might be made an example. But this is not known and is speculation, and also one does not know what the market reaction will be on more news, either. Going from US banks that got themselves in regulatory trouble, they paid a (large) fine and simply carried on. We 'expect' that to be the case here, but of course could be wrong on that call. Sometimes investigations take a long time. In the interim, strong earnings or lower rates could still help the stock. We might expect it to be in the penalty box three months or so, and perhaps six months 'after' it gets its punishment. The other stocks in the question have been recently discussed in the Q&A. News is not great, certainly, but most likely priced in to very low valuations across the board. We do not believe any of these dividends are at any real risk.