National Bank of Canada has raised its dividend as it reported a fourth-quarter profit of $1.06 billion. The bank stated that it will now pay a quarterly dividend of $1.24 per share, an increase of six cents.
On Tuesday, the bank announced it was acquiring Laurentian Bank’s retail and small business segments. The bank reported a fourth-quarter profit of $2.57 per diluted share, compared with net income of $955 million or $2.66 per diluted share a year ago, when it had fewer shares outstanding.
Revenue for the quarter ending 31 October totalled $3.70 billion, up from $2.94 billion a year earlier.
On an adjusted basis, National Bank reported earnings of $2.82 per diluted share, up from an adjusted profit of $2.58 per diluted share in the same quarter last year.
Analysts had expected an adjusted profit of $2.62 per share on average, according to estimates compiled by LSEG Data & Analytics.
Key financial figures for the fourth quarter:
| Item | Amount |
|---|---|
| Net Profit | $1.06 billion |
| Dividend per Share | $1.24 (increase of 6 cents) |
| Profit per Diluted Share | $2.57 |
| Adjusted Profit per Share | $2.82 |
| Revenue | $3.70 billion |
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