Toronto Dominion Bank (The) (NYSE:TD) Plans Dividend Increase – C$1.12 Per Share

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) declared a quarterly dividend on Thursday, May 28th. Stockholders of record on Friday, July 10th will be given a dividend of 1.12 per share by the bank on Friday, July 31st. This represents a c) annualized dividend and a dividend 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 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 50.0% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

TD opened at $113.33 on Friday. 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 has a 52-week low of $68.08 and a 52-week high of $113.51. The stock has a market capitalization of $187.70 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.25 and a beta of 0.71. The stock’s 50 day moving average price is $102.85 and its 200-day moving average price is $95.93.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, February 26th. The bank reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.13. The company had revenue of $11.01 billion for the quarter, compared to analysts’ expectations of $10.43 billion. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.02 earnings per share. On average, equities research analysts predict that Toronto Dominion Bank will post 6.89 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Bayban purchased a new position in shares of Toronto Dominion Bank during the fourth quarter valued at approximately $28,000. Harvest Fund Management Co. Ltd lifted its position in Toronto Dominion Bank by 112.8% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock valued at $30,000 after purchasing an additional 168 shares during the period. CBIZ Investment Advisory Services LLC bought a new position in Toronto Dominion Bank during the fourth quarter valued at approximately $34,000. Brown Lisle Cummings Inc. lifted its position in Toronto Dominion Bank by 88.4% during the first quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank’s stock valued at $38,000 after purchasing an additional 191 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in Toronto Dominion Bank by 660.9% during the second quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank’s stock valued at $38,000 after purchasing an additional 456 shares during the period. 52.37% of the stock is owned by institutional investors.

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.