Toronto-Dominion Bank said on February 29, 2024 that its board of directors declared a regular quarterly dividend of $1.02 per share ($4.08 annualized). Previously, the company paid $1.02 per share.
Shares must be purchased before the ex-div date of April 8, 2024 to qualify for the dividend. Shareholders of record as of April 9, 2024 will receive the payment on April 30, 2024.
At the current share price of $59.08 / share, the stock's dividend yield is 6.91%.
Additionally, the company's dividend payout ratio is 0.57. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
- Read the Ultimate Guide to Dividend Harvesting.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 968 funds or institutions reporting positions in Toronto-Dominion Bank. This is an increase of 36 owner(s) or 3.86% in the last quarter. Average portfolio weight of all funds dedicated to TD is 0.45%, a decrease of 6.57%. Total shares owned by institutions decreased in the last three months by 4.46% to 958,048K shares. 
The put/call ratio of TD is 0.35, indicating a bullish outlook.
Analyst Price Forecast Suggests 14.18% Upside
As of February 24, 2024, the average one-year price target for Toronto-Dominion Bank is 67.46. The forecasts range from a low of 57.68 to a high of $81.09. The average price target represents an increase of 14.18% from its latest reported closing price of 59.08.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Toronto-Dominion Bank is 57,697MM. The projected annual non-GAAP EPS is 9.90.
What are Other Shareholders Doing?
Royal Bank Of Canada holds 151,325K shares representing 8.54% ownership of the company. In it's prior filing, the firm reported owning 159,559K shares, representing a decrease of 5.44%. The firm decreased its portfolio allocation in TD by 90.39% over the last quarter.
Bank Of Montreal holds 107,605K shares representing 6.07% ownership of the company. In it's prior filing, the firm reported owning 112,822K shares, representing a decrease of 4.85%. The firm decreased its portfolio allocation in TD by 70.89% over the last quarter.
Td Asset Management holds 46,470K shares representing 2.62% ownership of the company. In it's prior filing, the firm reported owning 36,054K shares, representing an increase of 22.41%. The firm increased its portfolio allocation in TD by 15.07% over the last quarter.
CIBC World Markets holds 45,788K shares representing 2.58% ownership of the company. In it's prior filing, the firm reported owning 40,002K shares, representing an increase of 12.64%. The firm decreased its portfolio allocation in TD by 5.72% over the last quarter.
Bank Of Nova Scotia holds 33,335K shares representing 1.88% ownership of the company. In it's prior filing, the firm reported owning 33,230K shares, representing an increase of 0.32%. The firm decreased its portfolio allocation in TD by 59.80% over the last quarter.
Toronto Dominion Bank Background Information
(This description is provided by the company.)
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ('TD' or the 'Bank'). TD is the sixth largest bank in North America by branches and serves over 26 million customers in three key businesses operating in a number of locations in financial centres around the globe: Canadian Retail, including TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD Insurance; U.S. Retail, including TD Bank, America's Most Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an investment in The Charles Schwab Corporation; and Wholesale Banking, including TD Securities. TD also ranks among the world's leading online financial services firms, with more than 14 million active online and mobile customers. TD had CDN$1.7 trillionin assets on October 31, 2020.
Additional reading:
- TD BANK GROUP • FIRST QUARTER 2024 •
- THE TORONTO-DOMINION BANK
- RETURN ON ASSETS, DIVIDEND PAYOUTS, AND EQUITY TO ASSETS RATIOS
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
