TD’s Quarterly Dividend Declaration
On February 29, 2024, Toronto-Dominion Bank announced a regular quarterly dividend of $1.02 per share, or $4.08 on an annualized basis. Shareholders need to secure shares before the ex-dividend date of April 8, 2024, to be eligible for the payout scheduled for April 30, 2024.
Dividend Yield and Payout Ratio
With a dividend yield of 6.91% at the current share price of $59.08, TD maintains a healthy payout ratio of 0.57. Despite the stability in dividends, the company has not increased its dividend in the past three years.
Fund Sentiment and Analyst Projections
Analysis reveals that 968 funds or institutions hold positions in Toronto-Dominion Bank, indicating a steady increase. The average price target suggests a 14.18% upside potential, with a range varying between $57.68 and $81.09.
Among major institutions, Royal Bank of Canada, Bank of Montreal, TD Asset Management, CIBC World Markets, and Bank of Nova Scotia have adjusted their holdings in TD, with some increasing and others decreasing their ownership percentages.
Background and Company Information
The Toronto-Dominion Bank, commonly referred to as TD, is a notable banking institution with a significant presence in North America across various financial sectors. With over 26 million customers, TD operates within Canada, the U.S., and globally, managing assets worth CDN$1.7 trillion as of October 31, 2020.
