TD Bank announces dividend payment of $1.02

Toronto-Dominion Bank (TD) has announced its regular quarterly dividend of $1.02 per share, with an annualized dividend of $4.08. Shareholders must purchase shares before the ex-dividend date of April 8, 2024, to qualify for the dividend payment on April 30, 2024. At the current share price of $59.08, the stock’s dividend yield is 6.91%.

The company’s dividend payout ratio is 0.57, indicating that 57% of the company’s income is paid out in dividends. While the company has not increased its dividend in the last three years, analysts forecast a 14.18% upside in the stock price, with a one-year price target of $67.46.

In terms of fund sentiment, there are 968 funds reporting positions in TD, with an increase of 3.86% in the last quarter. The average portfolio weight dedicated to TD is 0.45%, a decrease of 6.57%. The put/call ratio of TD is 0.35, indicating a bullish outlook.

Among institutional shareholders, Royal Bank of Canada holds 8.54% ownership of the company, while Bank of Montreal holds 6.07%. TD Asset Management and CIBC World Markets have also increased their portfolio allocations in TD.

Overall, Toronto-Dominion Bank is a leading financial institution with a strong presence in North America, serving over 26 million customers. With a focus on Canadian and U.S. retail banking, as well as wholesale banking, TD continues to be a key player in the financial services industry.