The Toronto-Dominion Bank (NYSE:TD) Announces Dividend Increase – $0.75 Per Share

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) announced a quarterly dividend on Friday, December 6th,Wall Street Journal reports. Stockholders of record on Friday, January 10th will be given a dividend of 0.7482 per share by the bank on Friday, January 31st. This represents a $2.99 annualized dividend and a dividend yield of 5.76%. The ex-dividend date of this dividend is Friday, January 10th. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.74.

Toronto-Dominion Bank has raised its dividend by an average of 7.3% annually over the last three years. Toronto-Dominion Bank has a dividend payout ratio of 51.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Toronto-Dominion Bank to earn $5.89 per share next year, which means the company should continue to be able to cover its $2.93 annual dividend with an expected future payout ratio of 49.7%.

Toronto-Dominion Bank Trading Down 1.6 %

Shares of TD stock traded down $0.84 during trading hours on Friday, hitting $51.96. The company had a trading volume of 4,939,230 shares, compared to its average volume of 2,736,187. Toronto-Dominion Bank has a fifty-two week low of $51.74 and a fifty-two week high of $65.12. 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 company’s fifty day moving average is $57.53 and its 200 day moving average is $57.67. The stock has a market capitalization of $90.94 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 1.85 and a beta of 0.82.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TD shares. StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. National Bank Financial raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. Desjardins cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday. Scotiabank lowered Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday. Finally, Royal Bank of Canada reduced their price target 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock 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.