The Toronto-Dominion Bank (NYSE:TD) Plans $0.73 Quarterly Dividend

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) announced 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 annualized dividend and a 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 increased its dividend annually for the last 11 consecutive 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 traded up $0.10 during midday trading on Friday, hitting $59.89. 1,864,470 shares of the stock were exchanged, compared to its average volume of 2,549,551. Toronto-Dominion Bank has a 52-week low of $51.25 and a 52-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. The stock has a fifty day simple moving average of $56.62 and a 200 day simple moving average of $57.62. The firm has a market cap of $104.94 billion, a P/E ratio of 17.26, a P/E/G ratio of 1.95 and a beta of 0.84.

Analysts Set New Price Targets

A number of brokerages have recently commented on TD. BMO Capital Markets raised Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 19th. Jefferies Financial Group cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. StockNews.com lowered shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Monday. Bank of America upgraded shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. Finally, Royal Bank of Canada dropped their target price on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Toronto-Dominion Bank has a consensus rating of “Hold” and an average 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.