The Toronto-Dominion Bank (NYSE:TD) to Issue $0.74 Quarterly Dividend

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) declared a quarterly dividend on Thursday, August 22nd, Zacks reports. Stockholders of record on Thursday, October 10th will be given a dividend of 0.739 per share by the bank on Thursday, October 31st. This represents a $2.96 annualized dividend and a dividend yield of 4.66%. The ex-dividend date of this dividend is Thursday, October 10th.

Toronto-Dominion Bank has increased its dividend by an average of 7.3% per year over the last three years. Toronto-Dominion Bank has a payout ratio of 49.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Toronto-Dominion Bank to earn $6.06 per share next year, which means the company should continue to be able to cover its $3.01 annual dividend with an expected future payout ratio of 49.7%.

Toronto-Dominion Bank Stock Down 0.6 %

NYSE TD opened at $63.41 on Wednesday. Toronto-Dominion Bank has a 1 year low of $53.52 and a 1 year high of $65.12. The stock has a market capitalization of $110.86 billion, a PE ratio of 14.41, a PEG ratio of 1.86 and a beta of 0.81. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02. The business’s 50-day moving average is $60.43 and its 200 day moving average is $58.13.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.56. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The company had revenue of $14.18 billion for the quarter, compared to the consensus estimate of $9.40 billion. During the same quarter in the previous year, the business earned $1.48 EPS. Toronto-Dominion Bank’s revenue was up 9.8% compared to the same quarter last year. Sell-side analysts forecast that Toronto-Dominion Bank will post 5.84 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. UBS Group assumed coverage on Toronto-Dominion Bank in a report on Tuesday, July 2nd. They set a “neutral” rating on the stock. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. Finally, National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $84.00.

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.