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

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 annually for the last 11 consecutive years. Toronto-Dominion Bank has a dividend payout ratio of 49.0% meaning 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

NYSE TD traded up $0.10 on Friday, reaching $59.89. 1,973,154 shares of the company’s stock traded hands, compared to its average volume of 2,553,240. The firm has a market cap of $104.94 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 1.95 and a beta of 0.84. The stock has a 50 day moving average price of $56.78 and a 200-day moving average price of $57.64. Toronto-Dominion Bank has a fifty-two week low of $51.25 and a fifty-two week high of $64.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03.

Wall Street Analysts Forecast Growth

TD has been the subject of a number of analyst reports. StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Monday, February 24th. Barclays downgraded shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research report on Thursday, November 21st. Royal Bank of Canada decreased their price objective on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a research report on Friday, December 6th. Desjardins downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Finally, BMO Capital Markets upgraded shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $80.50.

Toronto-Dominion Bank Company Profile

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.