National Bank hikes dividend after profit climbs 11% — via financialpost Finance Banking
The bank’s profit jumped 11 per cent from the same period last year in the three months ending April 30. The quarter’s earnings reached $2.55 per share, up 13 per cent from $2.25 per share reported in 2021.
National Bank also joined most of the other big six banks as it announced it would be hiking its dividend by five cents to $0.92 per share, which is payable on Aug. 1. The bank’s U.S. specialty finance and international segment saw the most growth from last year, jumping 18 per cent to a net income totalling $152 million on higher revenues, outpacing non-interest expenses and credit loss provisions.
National Bank president and chief executive officer Laurent Ferreira noted that growth across these segments were working in tandem to deliver stronger results for the bank. “We are maintaining our strategic objectives of delivering a high return on equity and ensuring prudent management of risk and regulatory capital,” said Ferreira in a press release accompanying the results.
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