UPDATE 1-TD Bank profit inches higher; stock split announced
* Profit misses estimates; wholesale banking income falls
* Bank to split stock, to raise dividend by 1.2 pct
* Extends shareholder agreement with TD Ameritrade to 2021
TORONTO, Dec 5 (Reuters) - Toronto-Dominion Bank, Canada's second-biggest bank, said on Thursday its quarterly profit rose 1.6 percent, missing expectations, and it announced a 2-for-1 stock split.
The bank also raised its dividend 1.2 percent.
TD, which in addition to its Canadian retail bank operates a 1,300-branch network on the U.S. East Coast, earned C$1.62 billion ($1.52 billion), or C$1.68 a share, in the fourth quarter that ended Oct. 31.
That compared with a year-earlier profit of C$1.60 billion, or C$1.66 a share.
Excluding a C$90 million restructuring charge, a C$59 million hit for amortization of intangibles, and other items, the bank earned C$1.90 a share, up from C$1.83.
Analysts on average had expected C$1.99, according to Thomson Reuters I/B/E/S. Continued...