TD reports higher profit on Canadian banking and capital markets strength, raises dividend
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- TD posted adjusted earnings of $2.38 per share for Q2, topping analysts’ $2.26 estimate.
- TD raised its quarterly dividend by $0.04 to $1.12 per share and continued share buybacks, reflecting excess capital.
- TD’s Canadian personal and commercial banking profit rose 15% to $1.93 billion, with loan balances up 6% and deposits up 3%.
- TD’s U.S. adjusted net income climbed 8% to $960 million, while expenses rose 10% as the bank invests in AML remediation and risk‑governance fixes.
- TD reaffirmed its guidance for mid‑single‑digit expense growth this year, emphasizing cost reductions across both Canada and the United States.
Why it matters: Shareholders benefit from the dividend hike to $1.12 and share buybacks, while the earnings beat and 15% profit jump bolster confidence in Canadian banks, attracting capital amid global market uncertainty.
