Toronto Dominion Bank (The) (NYSE:TD) Increases Dividend to C$1.08 Per Share

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) announced a quarterly dividend on Thursday, December 4th. Shareholders of record on Friday, January 9th will be paid a dividend of 1.08 per share by the bank on Saturday, January 31st. This represents a c) dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Friday, January 9th. This is a 2.9% increase from Toronto Dominion Bank’s previous quarterly dividend of $1.05.

Toronto Dominion Bank has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 12 years. Toronto Dominion Bank has a payout ratio of 48.5% 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 $3.01 annual dividend with an expected future payout ratio of 50.6%.

Toronto Dominion Bank Price Performance

Shares of Toronto Dominion Bank stock opened at $86.04 on Friday. The stock has a market cap of $145.36 billion, a price-to-earnings ratio of 10.05, a price-to-earnings-growth ratio of 1.39 and a beta of 0.69. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50 day moving average price of $81.33 and a 200-day moving average price of $75.99. Toronto Dominion Bank has a one year low of $51.25 and a one year high of $86.34.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly 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. Toronto Dominion Bank had a return on equity of 13.59% and a net margin of 16.40%.The company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $10.10 billion. During the same quarter in the prior year, the firm posted $1.72 EPS. Toronto Dominion Bank’s quarterly revenue was down .1% compared to the same quarter last year. Equities analysts expect that Toronto Dominion Bank will post 5.48 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Canerector Inc. raised its stake in Toronto Dominion Bank by 11,028.0% in the third quarter. Canerector Inc. now owns 22,256,000 shares of the bank’s stock valued at $1,779,367,000 after buying an additional 22,056,000 shares during the last quarter. Norges Bank acquired a new stake in Toronto Dominion Bank in the 2nd quarter worth approximately $1,543,639,000. Goldman Sachs Group Inc. grew its position in Toronto Dominion Bank by 93.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,216,411 shares of the bank’s stock worth $732,252,000 after purchasing an additional 5,917,078 shares during the last quarter. Federation des caisses Desjardins du Quebec raised its holdings in shares of Toronto Dominion Bank by 48.9% in the first quarter. Federation des caisses Desjardins du Quebec now owns 14,785,565 shares of the bank’s stock worth $886,174,000 after buying an additional 4,853,498 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Toronto Dominion Bank by 81.6% during the first quarter. Canada Pension Plan Investment Board now owns 10,524,446 shares of the bank’s stock worth $630,746,000 after buying an additional 4,729,657 shares during the period. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

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.