TD Bank Swings To Q3 Profit; Declares $1.05 Dividend, Shares Rise 9% Pre-Market

(RTTNews) - The Toronto-Dominion Bank (TD), on Thursday, reported profit in the third quarter compared with a loss in the previous year.

For the third quarter, net income attributable to shareholders came in at a profit of C$3.25 billion compared with a loss of C$250 million in the previous year.

Earnings per share C$1.89 versus loss of C$0.14 last year.

Adjusted net income surged to C$3.87 billion from C$3.65 billion in the previous year.

Adjusted earnings per share C$2.20 versus loss C$2.05 last year.

Net interest income increased to C$8.53 billion from C$7.58 billion in the previous year.

Non-interest income increased to C$6.77 billion from C$6.60 billion in the prior year.

Further, the Bank declared a $1.05 quarterly dividend per share for October 31, payable to shareholders of record on October 10, with an optional reinvestment plan purchasing additional shares at market price.

In the pre-market trading, TD bank is 9.28% higher at $83.22 on the New York Stock Exchange.