National Bank of Canada raised its dividend as it reported its fourth-quarter profit rose compared with a year ago.
The Montreal-based bank says it will now pay a quarterly dividend of $1.14 per share, up from $1.10 per share.
National Bank says it earned $955 million or $2.66 per diluted share for the quarter ended Oct. 31, up from a profit of $751 million or $2.09 per diluted share in the same quarter last year.
Revenue for the quarter totalled $2.94 billion, up from $2.56 billion a year earlier, while the bank’s provision for credit losses amounted to $162 million, up from $115 million a year ago.
On an adjusted basis, National Bank says it earned $2.58 per diluted share in its latest quarter, up from an adjusted profit of $2.39 per diluted share in the same quarter last year.
The average analyst estimate had been for an adjusted profit of $2.57 per share, according to data provided by LSEG Data & Analytics.
This report by The Canadian Press was first published Dec. 4, 2024.
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