* Adj profit C$1.91/share vs estimate C$1.84
* Stronger trading revenue drives profit gain
* Bank raises quarterly dividend by 7 pct
TORONTO, Aug 30 (Reuters) - Toronto-Dominion Bank quarterly profit rose 14 percent, coming in just head of estimates, on a sharp jump in trading-related revenue, and the bank raised its quarterly dividend.
TD, Canada’s second-largest bank, said on Thursday it earned C$1.7 billion ($1.72 billion), or C$1.78 a share, in the fiscal third quarter ended July 31. That compared with a profit of C$1.5 billion, or C$1.58 a share, a year earlier.
The bank raised its quarterly dividend by 7 percent to 77 Canadian cents a share. All five of Canada’s big banks have raised their payouts this quarter.
Excluding one-time items, the bank earned C$1.91 a share, it said. Analysts had expected a profit of C$1.84, according to Thomson Reuters I/B/E/S.
Wholesale banking profit, which includes income from investment banking, trading and advisory fees, jumped 61 percent to C$180 million, due mainly to trading-related revenue.
Income from the bank’s flagship Canadian banking unit rose 9 percent to C$864 million, driven by loan and deposit growth. Profit from its U.S. retail banking business eased 4 percent to C$284 million.