TD Bank Plans No Dividend Payout Ratio Hike

Financial Post, Duncan Mavin, 31 January 2007Investors in Toronto-Dominion Bank will not be paid a bigger share of the bank's earnings until there is a downturn in the financial-services industry, said TD's chief executive yesterday.TD reported record earnings in 2006 of $4.6-billion, up from $2.2-billion the previous year.But the bank did not touch its 40% target dividend payout ratio -- the