Tags: TD Bank | profit | insurance | weather

TD Bank Profit Falls 10 Percent on Insurance Losses

Thursday, 29 August 2013 07:03 AM

Toronto-Dominion Bank's quarterly profit fell 10 percent, as Canada's No. 2 lender took C$418 million in insurance-related charges partly related to severe weather in Canada during the summer.

The bank, the final large Canadian bank to report results for the period, raised its quarterly dividend by 5 percent to 85 Canadian cents a share, it said on Thursday.

TD earned C$1.53 billion, or C$1.58 a share, in the third quarter ended July 31, compared with C$1.70 billion, or C$1.78 a share, a year earlier.

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Toronto-Dominion Bank's quarterly profit fell 10 percent, as Canada's No. 2 lender took C$418 million in insurance-related charges partly related to severe weather in Canada during the summer.
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2013-03-29
Thursday, 29 August 2013 07:03 AM
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