The Toronto-Dominion Bank to Issue Quarterly Dividend of $0.73 (NYSE:TD)

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) declared a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Investors of record on Thursday, April 10th will be given a dividend of 0.7278 per share by the bank on Wednesday, April 30th. This represents a $2.91 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date is Thursday, April 10th.

Toronto-Dominion Bank has raised its dividend payment by an average of 8.0% annually over the last three years and has raised its dividend every year for the last 11 years. Toronto-Dominion Bank has a dividend payout ratio of 49.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Toronto-Dominion Bank to earn $5.95 per share next year, which means the company should continue to be able to cover its $2.91 annual dividend with an expected future payout ratio of 48.9%.

Toronto-Dominion Bank Stock Performance

Shares of Toronto-Dominion Bank stock traded up $0.10 on Friday, reaching $59.89. 1,864,470 shares of the stock were exchanged, compared to its average volume of 2,549,551. The firm has a market capitalization of $104.94 billion, a PE ratio of 17.26, a PEG ratio of 1.95 and a beta of 0.84. Toronto-Dominion Bank has a 1-year low of $51.25 and a 1-year high of $64.91. The business has a fifty day moving average price of $56.62 and a two-hundred day moving average price of $57.62. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Scotiabank downgraded Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, December 6th. Barclays cut Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research report on Thursday, November 21st. Royal Bank of Canada reduced their target price on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a report on Friday, December 6th. BMO Capital Markets raised shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 19th. Finally, Desjardins cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $80.50.

About Toronto-Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.