TD Bank profit rises 14 pct, dividend increased

TORONTO Thu Aug 30, 2012 6:45am EDT

TORONTO Aug 30 (Reuters) - Toronto-Dominion Bank quarterly profit rose 14 percent, driven by a sharp jump in trading-related revenue, and the bank raised its quarterly dividend.

TD, Canada's second-largest bank, said on Thursday it earned C$1.7 billion ($1.72 billion), or C$1.78 a share, in the fiscal third quarter ended July 31. That compared with a profit of C$1.5 billion, or C$1.58 a share, a year earlier.

The bank raised its quarterly dividend by 7 percent to 77 Canadian cents a share. All five of Canada's big banks have raised their payouts this quarter.

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