TORONTO (Reuters) – Toronto-Dominion Bank reported a 21 percent rise in quarterly profit on Thursday, driven by loan growth at its Canadian and U.S. retail banks and allowing it to raise its dividend by 5 percent. The bank, Canada's second-largest, earned C$1.79 billion, or C $1.86 a share, in the first quarter ended on Jan 31. That compares with C$1.48 billion, or C$1.55 a share, a year earlier, when the bank took a C$171 million litigation charge. Excluding items including C$56 million in amortization of intangibles and a C$70 million litigation reserve, earnings rose to C$2. … US announces $60 million in new aid to Syrian opposition, says will work with rebel fighters
ROME – U.S. Secretary of State John Kerry says the Obama administration will provide the Syrian opposition with an additional $60 million in assistance and will for the first time provide non-lethal aid like food and medical supplies to rebels fighting to oust President Bashar Assad.
RBC profit rises 12 percent; bank raises dividend
TORONTO (Reuters) – Royal Bank of Canada reported a stronger-than-expected 12 percent rise in quarterly profit on Thursday on the back of stronger loan growth and capital markets income, prompting the bank to raise its dividend by 5 percent. The bank, Canada's largest, earned C$2.07 billion ($2.05 billion), or C$1.36 a share, in the first quarter ended Jan 31. That compares with a year-earlier profit of C$1.86 billion, or C$1.22 a share. Excluding special items, the bank earned C$1.38 a share, beating analysts' expectations of C$1.31, according to Thomson Reuters I/B/E/S. … CIBC profit falls four percent on Lehman Brothers charge
TORONTO (Reuters) – Canadian Imperial Bank of Commerce reported a 4 percent drop in quarterly profit on Thursday due largely to a C$148 million charge for a legal settlement with bankrupt U.S. bank Lehman Brothers. CIBC, Canada's fifth-large st bank, earned C$798 million (C$777 million), or C$1.91 per share, in the first quarter ended on January 31, down from C$835 million, or C$1.91 per share, a year earlier. … Severfield plans rights issue, amends debt facility
(Reuters) – Structural steelwork maker Severfield-Rowen Plc said it planned a rights issue and had amended its debt facilities to shore up its finances after “a very difficult” 2012. The company, which reported an underlying pretax loss of 19.6 million pounds ($29.7 million) for 2012, said it planned to raise a net 44.8 million pounds through the 7-for-3 issue. The issue of up to 208.25 million shares will be priced at 23 pence each, the company said, representing a discount of 67.8 percent to Wednesday’s close on the London Stock Exchange. The company has about 89. …
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