Toronto Dominion Bank (The) (NYSE:TD) Raises Dividend to C$1.12 Per Share

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) announced a quarterly dividend on Thursday, May 28th. Investors of record on Friday, July 10th will be paid a dividend of 1.12 per share by the bank on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Friday, July 10th. This is a 3.7% increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08.

Toronto Dominion Bank has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 12 consecutive years. Toronto Dominion Bank has a dividend payout ratio of 50.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Toronto Dominion Bank to earn $7.69 per share next year, which means the company should continue to be able to cover its $3.10 annual dividend with an expected future payout ratio of 40.3%.

Toronto Dominion Bank Trading Up 1.0%

TD stock traded up $1.13 on Thursday, reaching $113.33. The company’s stock had a trading volume of 2,911,515 shares, compared to its average volume of 1,391,381. The business has a fifty day simple moving average of $102.50 and a two-hundred day simple moving average of $95.70. Toronto Dominion Bank has a 12-month low of $68.08 and a 12-month high of $113.51. The firm has a market cap of $187.70 billion, a PE ratio of 12.52, a PEG ratio of 1.25 and a beta of 0.71. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.05 and a current ratio of 1.05.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, February 26th. The bank reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.13. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.The company had revenue of $11.01 billion during the quarter, compared to analyst estimates of $10.43 billion. During the same quarter last year, the firm posted $2.02 earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis. As a group, research analysts forecast that Toronto Dominion Bank will post 6.89 EPS for the current year.

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.