TD Bank Group Q4 Profit Surges; Results Top Estimates
(RTTNews) - TD Bank Group (TD, TD.TO) on Thursday reported fourth-quarter net income available to common shareholders of C$6.56 billion or C$3.62 per share, up sharply from C$3.72 billion or C$2.04 per share in the year-ago quarter.
Adjusted earnings for the quarter were C$2.18 per share, compared to C$2.09 per share in the prior-year quarter.
Revenue for the quarter increased to C$15.56 billion from C$11.60 billion in the same quarter last year. Adjusted revenues were C$12.25 billion, compared to C$10.94 billion last year.
On average, analysts polled by Thomson Reuters expected the company to report earnings of C$2.06 per share on revenues of C$11.75 billion for the quarter. Analysts' estimates typically exclude special items.
Separately, TD Bank announced that a dividend in an amount of C$0.96 per fully paid common share in the capital stock of the Bank has been declared for the quarter ending January 31, 2023, payable on and after January 31, 2023, to shareholders of record at the close of business on January 6, 2023.
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.
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