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Passengers on metro platforms can board a train only when the train has surplus capacity and the dwell time is sufficient, while the latter condition is omitted in previous studies. Taking into account the impacts of train capacity and dwell time on passengers boarding, this study develops a model on optimizing metro timetable to reduce passenger travel time and metro operating cost, through regulating trains' inter-station run-time, dwell time and headway. The NSGA-II algorithm is employed to obtain the near-optimal Pareto Frontier of the proposed model. To address insufficient dwell time scheduled in the timetable, three operating strategies are proposed and compared: a. sticking to nominal timetable; b. extending dwell time only; c. extending dwell time and recovering delay as soon as possible by compressing train inter-station run-time. Case studies on real-life metro line prove that some passengers cannot board the train during peak hours due to insufficient dwell time. In this context, strategy a brings low-quality service because passengers are stranded at platform even though the train has surplus capacity. In contrast, more passengers can board the train with strategies b and c because dwell time is extended for passengers' boarding when train has surplus capacity. Compared to strategy b, strategy c reduces the average in-vehicle time of passengers by 2.5% through compressing inter-station run-time to recover the delay. The timetable optimized based on strategy c saves total travel time of passengers by 3.1% without increasing operating cost when compared to the practical timetable.