TORONTO Feb 28 Toronto-Dominion Bank
reported a 21 percent rise in quarterly profit on Thursday,
driven by loan growth at its Canadian and U.S. retail banks and
allowing it to raise its dividend by 5 percent.
The bank, Canada's second-largest, earned C$1.79 billion, or
C$1.86 a share, in the first quarter ended on Jan 31. That
compares with C$1.48 billion, or C$1.55 a share, a year earlier,
when the bank took a C$171 million litigation charge.
Excluding items including C$56 million in amortization of
intangibles and a C$70 million litigation reserve, earnings rose
to C$2.00 a share from C$1.86.
That topped analysts' expectations of a profit of C$1.92 a
share, according to Thomson Reuters I/B/E/S.
TD has about 1,100 bank branches in Canada and about 1,300
in the United States, where it has a sizeable presence on the
Eastern Seaboard. It also owns 45 percent of TD Ameritrade
TD raised its dividend by 4 Canadian cents to 81 Canadian
cents per share.