TD Bank profit falls 10 percent on insurance losses
TORONTO, Aug 29 (Reuters) - Toronto-Dominion Bank's quarterly profit fell 10 percent, as Canada's No. 2 lender took C$418 million in insurance-related charges partly related to severe weather in Canada during the summer.
The bank, the final large Canadian bank to report results for the period, raised its quarterly dividend by 5 percent to 85 Canadian cents a share, it said on Thursday.
TD earned C$1.53 billion, or C$1.58 a share, in the third quarter ended July 31, compared with C$1.70 billion, or C$1.78 a share, a year earlier.