TD Bank raises dividend
TD Bank raises dividend, but Q1 profit falls short of expectations TD Bank Group raised its dividend but fell short of expectations as it reported a first-quarter profit of $3 billion, up from $2.4 billion in…
From the Canada News Group archive. This article dates from Feb 27, 2020 and is preserved as first published.
TD Bank raises dividend, but Q1 profit falls short of expectations
TD Bank Group raised its dividend but fell short of expectations as it reported a first-quarter profit of $3 billion, up from $2.4 billion in the same quarter last year.
The bank says it will now pay a quarterly dividend of 79 cents per share, up from its previous payment of 74 cents per quarter.
The bank says it will now pay a quarterly dividend of 79 cents per share, up from its previous payment of 74 cents per quarter.
The increased payment to shareholders came as TD says it earned $1.61 per diluted share for the quarter ended Jan. 31.
That compared with $1.27 per diluted share in the same quarter a year earlier.
On an adjusted basis, TD says it earned $1.66 per diluted share for the quarter, compared with an adjusted profit of $1.57 per diluted share in the first quarter of 2019.
Analysts on average had expected an adjusted profit of $1.69 per diluted share, according to financial markets data firm Refinitiv.
