TD grows first-quarter profit to $2.2B; raises dividend
The Canadian Press
Published Thursday, February 25, 2016 7:06AM EST
TORONTO - TD Bank (TSX:TD) grew its first-quarter profit by roughly eight per cent to $2.22 billion on higher earnings from its Canadian and U.S. retail banking operations.
That's up from the $2.06 billion that the bank reported during the first quarter of last year.
The earnings amounted to $1.17 per diluted share, up from $1.09 per share a year ago.
On an adjusted basis, TD earned $2.25 billion, or $1.18 per share, up from $2.12 billion, or $1.12 per share, during the same period last year.
Revenue for the quarter came to $8.61 billion, up from $7.61 billion a year ago.
TD also says its quarterly dividend will rise by four cents, or eight per cent, to 55 cents per share - payable on April 30.