[ by Melanie Gretchen ] Three of Canada's largest banks, Royal Bank of Canada, Toronto-Dominion Bank, and Canadian Imperial Bank of Commerce, raised their dividends after Q3 consumer lending profits exceeded analysts’ estimates.  In addition, Bank of Montreal and Bank of Nova Scotia increased their dividends this week amid gains in consumer lending and higher trading revenue. Bank Reports:

• Royal Bank, the country’s biggest lender, said profit for the period ended July 31 rose 73% to a record C$2.24 billion ($2.26 billion)
• TD, the 2nd-biggest bank, said net income climbed 14% to C$1.7 billion, or C$1.78 a share
• CIBC, the 5th-biggest bank, said profit rose 42% to C$841 million, or C$2 a share

Good While It Lasts? Upcoming forecasts may not be so sunny, judging by economists Q2 report of annualized growth of 1.6% after 1.9% in the first quarter; these numbers are very similar to those of the US.  In anticipation of loan and revenue growth slowing in the upcoming quarters, the banks raised customer payouts for the coming quarters. "You’d have to expect some slowdown" in housing, said David McKay, head of Canadian consumer lending at Royal Bank, on a conference call.  "We’ve come through a very strong spring mortgage season." For further details, go to [Business Week, 8/30/12].