Newspaper article The Canadian Press

National Bank Boosts Dividend as Q2 Profit Surges to $484 Million

Newspaper article The Canadian Press

National Bank Boosts Dividend as Q2 Profit Surges to $484 Million

Article excerpt

National Bank profit up, dividend rising

--

MONTREAL - National Bank of Canada (TSX:NA) is raising its quarterly dividend following a second-quarter profit that more than doubled to $484 million, beating analyst estimates.

The country's sixth-largest bank said Wednesday that its net income amounted to $1.28 per diluted share, up from 52 cents per share or $210 million in last year's second quarter.

Its dividend will increase by two cents per share or 3.6 per cent to 58 cents per share, starting with the Aug. 1 payment.

"Our strong performance was driven by double-digit growth across all our businesses, effective cost control, growth of our balance sheet while maintaining credit quality and continued progress in our transformation," CEO Louis Vachon said in a conference call. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.