Amendment: Removes third paragraph referring to analysts consensus.
Canadian lender TD Bank Group (TD, TD.TO) reported second-quarter net income of C$1.72 billion, higher than C$1.69 billion in the prior year. Meanwhile, earnings per share remained flat at C$1.78.
Adjusted earnings for the recent quarter totaled C$1.90, while the company posted C$1.82 per share a year ago.
Total revenues grew to C$6.00 billion from C$5.75 billion in the same quarter last year. Net interest income was C$3.90 billion, up from C$3.68 billion a year ago. Non-interest income totaled C$2.10 billion, compared to C$2.07 billion in the preceding year.
The company also declared a quarterly dividend of C$0.81 per share, up from C$0.72 paid last year, to shareholders of record on July 9, 2013, payable on July 31.
TD Bank also said, subject to approval of the Office of the Superintendent of Financial Institutions Canada and the Toronto Stock Exchange, it intends to launch a normal course issuer bid through the facilities of the TSX as well as through other designated exchanges and published markets in Canada to repurchase up to 12 million of its common shares, representing approximately 1.3% of the common shares currently issued and outstanding.
For comments and feedback: editorial@rttnews.com