Toronto Dominion Bank (The) Announces Quarterly Dividend of C$1.08 (NYSE:TD)

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) announced a quarterly dividend on Thursday, February 26th. Shareholders of record on Thursday, April 9th will be given a dividend of 1.08 per share by the bank on Thursday, April 30th. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date is Thursday, April 9th.

Toronto Dominion Bank has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 12 years. Toronto Dominion Bank has a payout ratio of 50.6% 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 $3.14 annual dividend with an expected future payout ratio of 52.8%.

Toronto Dominion Bank Price Performance

Shares of TD stock traded up $1.57 during mid-day trading on Thursday, reaching $98.75. The stock had a trading volume of 4,117,870 shares, compared to its average volume of 2,444,188. The company has a market cap of $165.04 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 1.30 and a beta of 0.67. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 12-month low of $54.87 and a 12-month high of $99.29. The business has a 50-day simple moving average of $94.88 and a 200 day simple moving average of $85.29.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, December 4th. The bank reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.10. The firm had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $10.10 billion. Toronto Dominion Bank had a net margin of 16.52% and a return on equity of 13.90%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the firm posted $1.72 EPS. On average, sell-side analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Institutional Investors Weigh In On Toronto Dominion Bank

Several hedge funds have recently modified their holdings of the stock. Main Line Retirement Advisors LLC increased its position in Toronto Dominion Bank by 0.9% during the fourth quarter. Main Line Retirement Advisors LLC now owns 12,152 shares of the bank’s stock worth $1,145,000 after purchasing an additional 109 shares during the last quarter. Rosenberg Matthew Hamilton grew its stake in shares of Toronto Dominion Bank by 8.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 1,489 shares of the bank’s stock valued at $140,000 after buying an additional 118 shares during the period. Richardson Financial Services Inc. increased its holdings in shares of Toronto Dominion Bank by 12.4% during the 4th quarter. Richardson Financial Services Inc. now owns 1,104 shares of the bank’s stock worth $104,000 after buying an additional 122 shares during the last quarter. Commons Capital LLC raised its position in shares of Toronto Dominion Bank by 0.7% in the 3rd quarter. Commons Capital LLC now owns 18,251 shares of the bank’s stock worth $1,459,000 after buying an additional 134 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in Toronto Dominion Bank by 4.8% in the third quarter. CIBC Private Wealth Group LLC now owns 2,912 shares of the bank’s stock valued at $233,000 after acquiring an additional 134 shares during the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

About Toronto Dominion Bank

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.