TD Bank Group Q2 Profit More Than Doubles, Tops Estimates - Quick Facts

(RTTNews) - TD Bank Group (TD, TD.TO) on Thursday reported second-quarter net income of C$3.70 billion or C$1.99 per share, up sharply from C$1.52 billion or C$0.80 per share in the year-ago quarter.

Adjusted earnings for the quarter were C$2.04 per share, compared to C$0.85 per share in the prior-year quarter.

Revenue for the quarter declined to C$10.23 billion from C$10.53 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of C$1.76 per share on revenues of C$10.27 billion for the quarter. Analysts' estimates typically exclude special items.

Canadian Retail reported adjusted net income for the quarter of C$2.18 billion, up 86 percent from the year-ago period. U.S. Retail recorded net income of C$1.05 billion, an increase of 292 percent compared with last year. Wholesale Banking net income surged 83 percent to C$383 million from last year.

Separately, TD Bank announced that a dividend in an amount of C$0.79 per fully paid common share in the capital stock of the Bank has been declared for the quarter ending July 31, 2021, payable on and after July 31, 2021, to shareholders of record at the close of business on July 9, 2021.

In lieu of receiving their dividends in cash, holders of the Bank's common shares may choose to have their dividends reinvested in additional common shares of the Bank in accordance with the Dividend Reinvestment Plan.