TD Bank Financial Group reported that results for the third quarter, ended July 31, reflect a very strong overall performance driven by broad-based contributions across the bank.

TD also announced an increase in the quarterly dividend of 4¢ to 48¢, representing an increase of 9% per fully paid common share for the quarter ended Oct. 31.

“This quarter clearly shows our focused and consistent strategy is achieving excellent results across our businesses,” said W. Edmund Clark, TD Bank’s president and CEO. “Our ability to continually grow and leverage our domestic retail operations while tracking progress in our U.S. businesses, confirms that our growth strategy is delivering.”

The company’s Canadian personal and commercial banking arm, TD Canada Trust, posted an outstanding quarter with earnings up 21% compared with the third quarter last year. Broad-based volume growth across the businesses and enhanced margins drove record earnings this quarter. Key contributions from business banking, real estate secured lending and personal deposits led Canadian personal and commercial banking’s ongoing earnings strength.

“Our Canadian personal and commercial bank generated exceptional results again this quarter by maintaining its focus on operational excellence and delivering superior customer service. This performance is particularly remarkable when you consider the consistency of our earnings in a competitive and mature industry segment,” said Clark.

Its wealth management arm, including the bank’s equity share of TD Ameritrade, produced a strong quarter, with a 54% increase in earnings, compared with the third quarter last year. Domestically, the quarter saw continued earnings strength from TD mutual fund sales, discount brokerage trading volumes and the advice-based businesses. TD Waterhouse Canada is on track to complete its goal of adding 130 net new client-facing advisors by the end of calendar 2006.

TD Ameritrade posted a very strong earnings performance that translated into a net income contribution of $55 million to the bank’s wealth management segment in the quarter. An increase in asset-based revenue for managing client accounts, as well as increased interest rates and spreads led to TD Ameritrade achieving a record quarter. The integration of TD Waterhouse U.S.A continues to progress on schedule.

“Wealth management followed up last quarter’s strong earnings with another great quarter,” said Clark. “We’re confident the broad-based progress demonstrated by our diversified wealth offering in Canada will continue to produce future earnings growth, positioning us well if capital markets continue to soften.”

The bank’s U.S. personal and commercial Banking segment earned $68 million from TD Banknorth in the third quarter. TD Banknorth continues to experience intense competition for high quality loans and deposits in a challenging U.S. banking environment. However, TD Banknorth’s asset quality remained strong and diligent expense control was exhibited during the quarter.

As a result of the successful Hudson United Bancorp systems conversion during the quarter, customers at 200 branches in New Jersey, Pennsylvania, Connecticut and the metropolitan New York area were officially introduced to the TD Banknorth network.

Wholesale Banking also delivered strong earnings in the third quarter defined by broad-based contributions across its businesses, and complemented by robust security gains. Earnings in the quarter increased to $179 million, an increase of 38% compared with adjusted earnings in third quarter of last year.

“Wholesale banking’s earnings performance this quarter demonstrates the strength of our ongoing franchise. We reached a major milestone in the third quarter by substantially completing the exit of our global structured products business, repositioning TD Securities to deliver more consistent earnings, with less risk, to better support TDBFG’s strategic objectives,” said Clark.

Overall, said Clark, “This quarter was defined by broad-based business results and outstanding earnings, clearly showing our strategy is working. By continuing to focus on enhancing our strong domestic retail operations and through the investments made to grow in the U.S., I have every reason to believe we’ll continue to drive good short-term results while solidifying a growth platform that delivers long-term shareholder value.”