The Toronto-Dominion Bank
TDFinancial Services · Stock · quarterly payer
Forward Yield
2.65%
Annual Dividend
$3.24
Payout Ratio
46%
5-Yr Growth
5.2%
Ex-Date
Oct 9, 2026
Frequency
Quarterly
Summary
As of September 2026, The Toronto-Dominion Bank (TD) yields 2.65% ($3.24 per share annually), with a blended fair-value estimate of $124.64 — +2% upside, so it screens as fairly valued. Dividend safety grade: C (63/100).
Is TD a good dividend stock?
Yes, with caveatsThe Toronto-Dominion Bank (TD) pays a quarterly dividend yielding 2.65% ($3.24/yr), with 0 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.
Advantages
- Comfortable payout ratio (46%)
- Strong 5.2% 5-yr dividend growth
- 69% total price return over 5 years
Risks
- Cut its dividend in 2015
Key Data
- Dividend Yield
- 2.65%
- Payout Ratio
- 46%
- Annual Dividend
- $3.24
- 5-Yr Avg Growth
- 5.2%
- Ex-Dividend Date
- Oct 9, 2026
- Years of Growth
- 0
- Frequency
- quarterly
- Beta
- 0.87
- Market Cap
- $200.4B
- P/E Ratio
- 18.3
- 5-Yr Total Return
- 69%
- 52-Week Range
- $77.26 – $125.47
- Dividend Safety
- C · 63/100
- Ever Cut?
- Yes (2015)
Frequently Asked Questions
TD Price — Last 12 Months
Daily close
Price Return
1 Year
+49%
3 Years
+119%
5 Years
+69%
52-Week Range
$77.26 – $125.47
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is TD worth?
Fairly valuedmedium confidenceOur blended fair-value estimate for The Toronto-Dominion Bank is $124.64 per share, versus a market price of $122.33. That implies the stock is roughly fairly priced.
Fair Value
$124.64
Current Price
$122.33
Gap
+2%
Margin of Safety
2%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about -10.0% annual free-cash-flow growth. We model 10.6% — below our estimate, leaving room for upside if the business executes.
Assumptions: 8.6% discount rate (CAPM), 10.6% stage-1 growth, 2.5% terminal growth, $6.68 EPS, $3.24 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
TD Dividend Safety Score
Borderline
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Jul 10, 2026 | — | $0.7910 | regular |
| Apr 9, 2026 | — | $0.7800 | regular |
| Jul 10, 2025 | — | $0.7670 | regular |
| Apr 10, 2025 | — | $0.7450 | regular |
| Jan 10, 2025 | — | $0.7240 | regular |
| Oct 10, 2024 | — | $0.7440 | regular |
| Jul 10, 2024 | — | $0.7480 | regular |
| Apr 8, 2024 | — | $0.7510 | regular |
| Jan 9, 2024 | — | $0.7640 | regular |
| Oct 5, 2023 | — | $0.6990 | regular |
| Jul 7, 2023 | — | $0.7180 | regular |
| Apr 5, 2023 | — | $0.7140 | regular |
| Jan 5, 2023 | — | $0.7120 | regular |
| Oct 6, 2022 | — | $0.6540 | regular |
Income Calculator
At $3.24 / yr per share
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