The Toronto-Dominion Bank (STU:TDB) Dividend Payout Ratio: 0.45 (As of Apr. 2026) — Near Median

What is The Toronto-Dominion Bank Dividend Payout Ratio?

The Toronto-Dominion Bank STU:TDB +1.09% 74 Dividend Payout Ratio is 0.45 as of Apr. 2026, which is 2% above its 10-year median of 0.44. GuruFocus rates STU:TDB with a GF Score™ of 74/100 and a GF Value™ of €67.66 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 1,170 Banks companies, The Toronto-Dominion Bank ranks worse than 71.62% on this metric.

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. The Toronto-Dominion Bank's Dividend Payout Ratio for the months ended in Apr. 2026 was 0.45.

The historical rank and industry rank for The Toronto-Dominion Bank's Dividend Payout Ratio or its related term are showing as below:

STU:TDB' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.4 Med: 0.44 Max: 0.58
Current: 0.46

During the past 13 years, the highest Dividend Payout Ratio of The Toronto-Dominion Bank was 0.58. The lowest was 0.40. And the median was 0.44.

STU:TDB's Dividend Payout Ratio is ranked worse than
71.62% of 1170 companies
in the Banks industry
Industry Median: 0.32 vs STU:TDB: 0.46

As of today (2026-07-02), the Dividend Yield % of The Toronto-Dominion Bank is 2.47%.

During the past 13 years, the highest Trailing Annual Dividend Yield of The Toronto-Dominion Bank was 5.57%. The lowest was 2.47%. And the median was 3.80%.

The Toronto-Dominion Bank's Dividends per Share for the months ended in Apr. 2026 was €0.67.

During the past 12 months, The Toronto-Dominion Bank's average Dividends Per Share Growth Rate was 2.90% per year. During the past 3 years, the average Dividends Per Share Growth Rate was 5.70% per year. During the past 5 years, the average Dividends Per Share Growth Rate was 6.90% per year. During the past 10 years, the average Dividends Per Share Growth Rate was 8.00% per year.

During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of The Toronto-Dominion Bank was 21.40% per year. The lowest was 3.40% per year. And the median was 9.85% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

The Toronto-Dominion Bank (STU:TDB) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

The Toronto-Dominion Bank Dividend Payout Ratio Related Terms

The Toronto-Dominion Bank Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for The Toronto-Dominion Bank's Dividend Payout Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

The Toronto-Dominion Bank Dividend Payout Ratio Chart

The Toronto-Dominion Bank Annual Data

Trend

Oct16

Oct17

Oct18

Oct19

Oct20

Oct21

Oct22

Oct23

Oct24

Oct25

Dividend Payout Ratio

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0.40

0.43

0.49

0.52

0.50

The Toronto-Dominion Bank Quarterly Data
	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23	Jan24	Apr24	Jul24	Oct24	Jan25	Apr25	Jul25	Oct25	Jan26	Apr26
Dividend Payout Ratio	Get a 7-Day Free Trial															0.46	0.48	0.48	0.44	0.45

STU:TDB vs JPM, BAC, WFC: Dividend Payout Ratio Comparison

For the Banks - Diversified subindustry, The Toronto-Dominion Bank's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

The Toronto-Dominion Bank Dividend Payout Ratio vs Banks Industry

For the Banks industry and Financial Services sector, The Toronto-Dominion Bank's Dividend Payout Ratio distribution charts can be found below:

* The bar in red indicates where The Toronto-Dominion Bank's Dividend Payout Ratio falls into.

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74GF Score

The Toronto-Dominion Bank STU:TDB

Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.

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The Toronto-Dominion Bank Dividend Payout Ratio Calculation

The Toronto-Dominion Bank's Dividend Payout Ratio for the fiscal year that ended in Oct. 2025 is calculated as

Dividend Payout Ratio	=	Dividends per Share (A: Oct. 2025 )	/	EPS without NRI (A: Oct. 2025 )
	=	2.579	/	5.14
	=	0.50

The Toronto-Dominion Bank's Dividend Payout Ratio for the quarter that ended in Apr. 2026 is calculated as

Dividend Payout Ratio	=	Dividends per Share (Q: Apr. 2026 )	/	EPS without NRI (Q: Apr. 2026 )
	=	0.671	/	1.479
	=	0.45

Frequently Asked Questions Learn more about Dividend Payout Ratio →

What does a Dividend Payout Ratio of 0.45 mean?

The Toronto-Dominion Bank (STU:TDB) has a Dividend Payout Ratio of 0.45 as of Apr. 2026. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on The Toronto-Dominion Bank and its competitors. This is near median its historical median of 0.44. Over the past decade, The Toronto-Dominion Bank's Dividend Payout Ratio has ranged from 0.40 to 0.58. According to the industry distribution chart, The Toronto-Dominion Bank ranks #838 out of 1170 companies in the Banks industry, placing it in the top 71.6%.

Is The Toronto-Dominion Bank's Dividend Payout Ratio too high?

The Toronto-Dominion Bank's current Dividend Payout Ratio of 0.45 is near median its 10-year median of 0.44. Over the past 10 years, this metric has ranged from a low of 0.40 to a high of 0.58. The Banks industry median Dividend Payout Ratio is 0.32. The Toronto-Dominion Bank's value of 0.45 is 40.6% above this industry median. Based on the distribution chart, The Toronto-Dominion Bank ranks #838 out of 1170 companies in the Banks industry, which is below the industry midpoint. Overall, The Toronto-Dominion Bank has a GF Score™ of 74/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does The Toronto-Dominion Bank's Dividend Payout Ratio compare to JPM and BAC?

According to the Banks industry distribution chart, The Toronto-Dominion Bank ranks #838 out of 1170 companies for Dividend Payout Ratio. This places The Toronto-Dominion Bank in the lower half of its industry. The industry median Dividend Payout Ratio is 0.32. The Toronto-Dominion Bank's value of 0.45 is 40.6% above this benchmark. Historically, The Toronto-Dominion Bank's own Dividend Payout Ratio has ranged from 0.40 to 0.58 over the past decade. While the company's 10-year median is 0.44 vs. the industry median of 0.32, The Toronto-Dominion Bank has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Dividend Payout Ratio for a Banks company?

The median Dividend Payout Ratio among Banks companies is 0.32, based on 1,170 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. The Toronto-Dominion Bank's current Dividend Payout Ratio of 0.45 is 40.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Dividend Payout Ratio mean?

A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on The Toronto-Dominion Bank and its competitors. For the Banks industry, the median Dividend Payout Ratio is 0.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. The Toronto-Dominion Bank's current Dividend Payout Ratio is 0.45, which is near median its own 10-year median of 0.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is The Toronto-Dominion Bank stock overvalued right now?

Based on GuruFocus' analysis, The Toronto-Dominion Bank (STU:TDB) is currently considered Significantly Overvalued. The stock's GF Value™ is €67.66, compared to a current price of €107.42 — trading 58.8% above its estimated fair value. The current Dividend Payout Ratio is 0.45, which is near median its 10-year median of 0.44 and 40.6% above the Banks industry median of 0.32. The Toronto-Dominion Bank's overall GF Score™ is 74/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Dividend Payout Ratio calculated?

Dividend Payout Ratio is calculated from a company's financial statements. For The Toronto-Dominion Bank (STU:TDB), the current Dividend Payout Ratio is 0.45 as of Apr. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is The Toronto-Dominion Bank (STU:TDB) Overvalued in 2026?

Based on GuruFocus' analysis, The Toronto-Dominion Bank stock appears to be overvalued. The current stock price of €107.42 is trading 58.8% above its estimated GF Value™ of €67.66. GuruFocus considers The Toronto-Dominion Bank to be Significantly Overvalued.

Key valuation signals for STU:TDB:

Dividend Payout Ratio: 0.45 (near median its 10-year median of 0.44)
GF Value™: €67.66 vs. price of €107.42 (58.8% above fair value)
GF Score™: 74/100 with 8 warning signs
Industry Position: 40.6% above the Banks median (#838 of 1170)

No single metric tells the full story. See the STU:TDB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

The Toronto-Dominion Bank Business Description

Industry Financial Services Banks

Comparable Companies TSX:BMO TSX:RY TSX:BNS TSX:CM TSX:NA JPM BAC SHSE:601398 LSE:HSBA SHSE:601288 SHSE:601939 SHSE:601988 WFC C TSE:8306 XMAD:SAN ASX:CBA XSWX:UBSG TSE:8316 XMAD:BBVA

Other Exchanges TD:USA TD N:Mexico 0VL8:UK TDB:Germany TD.PF.J.PFD:Canada TD.PF.I.PFD:Canada TD.PF.A.PFD:Canada TD:Canada

Address Toronto-Dominion Centre, P.O. Box 1, Toronto, ON, CAN, M5K 1A2

Website https://www.td.com

Toronto-Dominion is one of Canada's two largest banks with over CAD 2 trillion in assets by the end of April 2026. TD Bank operates four business segments: Canadian personal and commercial banking, US retail banking, wealth management and insurance, and wholesale banking. The bank derives more than 50% of its revenue from Canada and has dominant market shares in nearly all banking products and services. TD has around 44% of its revenue from its US operations. Its US footprint spans from Maine to Florida, with a strong presence in the Northeast.

74GF Score

Get the complete analysis for STU:TDB

Dividend Payout Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€107.42

Price

€67.66

GF Value

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