Toronto-Dominion Tops Estimates as Trading Revenue Swells
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Toronto-Dominion Bank, Canada’s largest lender by assets, reported record quarterly profit that topped analysts’ estimates after trading revenue surged. The lender raised its dividend 9.3 percent.
Net income for the first quarter ended Jan. 31 advanced 14 percent to C$2.04 billion ($1.83 billion), or C$1.07 a share, from C$1.78 billion, or 93 cents, a year earlier, the Toronto-based lender said today in a statement. Revenue jumped 15 percent to C$7.57 billion. The bank boosted its quarterly dividend to 47 cents from 43 cents.