Office buildings in Toronto’s financial district

Sun Life Financial Inc. reported that its net income rose by about 6% in its most recent financial quarter.

The Toronto-based financial services firm’s reported net income was $729 million in the second quarter, up from $689 million in the same quarter the previous year.

The company says the increase came primarily from business growth and favourable morbidity experience.

Earnings per share were $1.20, up from $1.12 a year prior.

The results outperformed analysts’ expectations, who estimated net income of $705.8 million and earnings per share of $1.15, according to Thomson Reuters Eikon.

Sun Life says its quarterly dividend will remain 47.5¢ per common share, the same as was paid in the previous quarter.