The Toronto-Dominion Bank Plans 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. Stockholders of record on Thursday, April 10th will be paid a dividend of 0.7278 per share by the bank on Wednesday, April 30th. This represents a $2.91 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend is Thursday, April 10th.

Toronto-Dominion Bank has increased its dividend by an average of 8.0% per year over the last three years and has raised its dividend every year for the last 11 years. Toronto-Dominion Bank has a payout ratio of 49.0% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 0.2 %

Shares of TD opened at $59.89 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. Toronto-Dominion Bank has a 12-month low of $51.25 and a 12-month high of $64.91. The firm has a market capitalization of $104.94 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84. The stock’s fifty day simple moving average is $56.78 and its 200-day simple moving average is $57.64.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Monday, February 24th. Desjardins lowered Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Jefferies Financial Group lowered Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Scotiabank lowered Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, December 6th. Finally, Barclays lowered Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Toronto-Dominion Bank presently has an average rating of “Hold” and a consensus price target 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.