Earnigngs Drop 07:18 AM EST, 12/02/2021 (MT Newswires) -- The Toronto-Dominion Bank (TD.TO, TD) on Thursday reported earnings were $3.8 billion, down 26% compared with Q4 2020's $5.14 billion. Last year's result, primarily reflected a net gain on the sale of the Bank's investment in TD Ameritrade, the bank said. Earnings per diluted share were $2.04, versus $2.80 a year ago.
Adjusted net income was $3.86 billion, or $2.09 per adjusted diluted share, beating a Capital IQ average forecast of $1.95. The bank reported adjusted earnings of $2.97 billion, or $1.60 per adjusted share for Q4 2020.
Total revenue for the quarter was $10.94 billion, versus $11.84 billion the prior year quarter.
TD's Common Equity Tier 1 Capital ratio was 15.2%.
ROE was 15.7% compared with 23.3% for Q4 2020, while adjusted ROE was 16.1 (2020: 13.3%).
As with the other banks that have reported this week, TD also hiked its quarterly dividend and announced a share buyback: the bank increased its dividend by $0.10 per common share, to $0.89.
TD also signalled its intention to launch a normal course issuer bid to buy back up to 50 million of its common shares, or 2.7% of its issued and outstanding common shares, as of Oct 31, 2021.