Over the past several weeks, investors holding shares in Canadian banks have seen the momentum run out as share prices began to pull back. Shares of Royal Bank of Canada ( TSX:RY )( NYSE:RY ) have declined from over $98 per share to a current price closer to $94 over the past month alone. Over the past two weeks, shares of Toronto-Dominion Bank ( TSX:TD )( NYSE:TD ) have declined from approximately $67 to just over $64 per share. Shares of Bank of Nova Scotia ( TSX:BNS )( NYSE:BNS ), which derives a significant amount of revenues from South America, experienced a decline from almost $79 to a low near $75 only to recover on Friday to a little shy of $77. Looking at the net profits and dividends paid out of the net profits, investors need to ask a key question before choosing which bank to hold as an investment: "Do I want to invest in a company with a high dividend-payout ratio or a low dividend-payout ratio?"