National Bank Reports $1.06B Fourth-Quarter Profit, Increases Dividend

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:

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