National Bank of Canada raised its dividend as it reported a fourth-quarter profit of $1.06 billion. The bank says it will now pay a quarterly dividend of $1.24 per share, an increase of six cents. National Bank, which announced Tuesday that it was buying Laurentian Bank’s retail and small business segments, says its fourth-quarter profit amounted to $2.57 per diluted, compared with net income of $955 million or $2.66 per diluted a year ago when it had fewer shares outstanding. Revenue for the quarter ended Oct. 31 totaled $3.70 billion, up from $2.94 billion a year earlier. On an adjusted basis, National Bank says it earned $2.82 per diluted share in its latest quarter, up from an adjusted profit of $2.58 per diluted share in the same quarter last year. Analysts on average had expected an adjusted profit of $2.62 per share, according to estimates compiled by LSEG Data & Analytics.
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