Toronto-Dominion Bank (TD) To Go Ex-Dividend on July 9th
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) announced a quarterly dividend on Friday, May 25th, Wall Street Journal reports. Investors of record on Tuesday, July 10th will be given a dividend of 0.5239 per share by the bank on Tuesday, July 31st. This represents a $2.10 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Monday, July 9th. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.52.
Toronto-Dominion Bank has raised its dividend payment by an average of 2.1% per year over the last three years. Toronto-Dominion Bank has a dividend payout ratio of 42.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Toronto-Dominion Bank to earn $5.27 per share next year, which means the company should continue to be able to cover its $1.94 annual dividend with an expected future payout ratio of 36.8%.
NYSE:TD opened at $57.66 on Wednesday. Toronto-Dominion Bank has a 52 week low of $49.91 and a 52 week high of $75.46. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $105.98 billion, a P/E ratio of 12.14, a PEG ratio of 1.04 and a beta of 0.96.
TD has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a report on Friday, May 4th. ValuEngine cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $79.00.
About Toronto-Dominion Bank
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to small, medium, and large businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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