TOURMALINE DECLARES QUARTERLY DIVIDEND

Newswire.ca – Thu Dec 1, 4:00PM CSTPartnership Content

CALGARY, AB, Dec. 1, 2022 /CNW/ – Tourmaline Oil Corp. (TSX:TOU.TO) (“Tourmaline” or the “Company“) is pleased to announce that its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.25 per common share. The dividend will be payable on December 30, 2022 to shareholders of record at the close of business on December 15, 2022. This quarterly cash dividend is designated as an “eligible dividend” for Canadian income tax purposes.Read more at newswire.ca

Fin. Services Index ($FTTS) and Canadian Banks

National Bank Reports Q4 Profit Down From Year Ago, Raises Quarterly Dividend

MONTREAL — National Bank of Canada raised its dividend as it reported its fourth-quarter profit fell four per cent compared with a year ago.

The Montreal-based bank says it will up its quarterly payment to shareholders by five cents to 97 cents per share.

The increased payment came as National Bank says it earned $738 million or $2.08 per diluted share for the quarter ended Oct. 31, down from $769 million or $2.17 per diluted share in the same quarter last year. Revenue totalled $2.33 billion, up from $2.21 billion a year earlier.

Provisions for credit losses totalled $87 million in the fourth quarter compared with a recovery of $41 million a year ago.

National Bank says it earned $2.08 per diluted share on an adjusted basis in its latest quarter, down from an adjusted profit of $2.19 per diluted share in the same quarter last year.

Analysts on average had expected a profit of $2.24 per share, according to estimates compiled by financial markets data firm Refinitiv.

This report by The Canadian Press was first published Nov. 30, 2022.

TD Bank Group Reports $6.67B Q4 Profit, Up From $3.78B A Year Ago

TORONTO — TD Bank Group reported a fourth-quarter profit of $6.67 billion, up from $3.78 billion in the same quarter last year, boosted by a one-time gain related to its deal to buy U.S.-based First Horizon Bank and the sale of Schwab shares.

The bank says the profit amounted to $3.62 per diluted share for the quarter ended Oct. 31, up from $2.04 per diluted share a year earlier.

Revenue totalled $15.56 billion, up from $10.94 billion a year ago.

TD says provisions for credit losses totalled $617 million in its latest quarter compared with a $123-million recovery of credit losses in the same quarter last year.

On an adjusted basis, TD says it earned $2.18 per diluted share in its fourth quarter compared with an adjusted profit of $2.09 per diluted share in its fourth quarter last year.

Analysts on average had expected a profit of $2.06 per share, according to estimates compiled by financial markets data firm Refinitiv.

This report by The Canadian Press was first published Dec. 1, 2022.

Royal Bank Of Canada Reports $3.88B Q4 Profit, Raises Quarterly Dividend

TORONTO — Royal Bank of Canada raised its dividend as it reported a fourth-quarter profit of $3.88 billion compared with $3.89 billion in the same quarter last year.

The bank says it will now pay a quarterly dividend of $1.32 per share, an increase of four cents.

The higher payment to shareholders came as RBC’s profit amounted to $2.74 per diluted share for the quarter ended Oct. 31, up from $2.68 per diluted share in its fourth quarter last year when it had more shares outstanding. Revenue totalled $12.57 billion, up from $12.38 billion a year earlier.

Provisions for credit losses amounted to $381 million in RBC’s latest quarter compared with a recovery of $227 million in its fourth quarter last year.

On an adjusted basis, RBC says it earned $2.78 per diluted share in its latest quarter compared with an adjusted profit of $2.71 per diluted share a year earlier.

Analysts on average had expected a profit of $2.68 per share, according to estimates compiled by financial markets data firm Refinitiv.

This report by The Canadian Press was first published Nov. 30, 2022.

BMO Financial Group Reports $4.48B Q4 Profit, Raises Dividend

TORONTO — BMO Financial Group raised its dividend as it reported fourth-quarter net income of $4.48 billion, up from $2.16 billion in the same quarter last year, boosted by a one-time gain related to its purchase of Bank of the West.

The bank says it increased its quarterly dividend by four cents to $1.43 per share.

The change came as BMO said its profit amounted to $6.51 per diluted share for the quarter ended Oct. 31, up from $3.23 per diluted share a year ago. Revenue totalled $10.57 billion for the quarter, up from $6.57 billion in the same quarter last year.

Provisions for credit losses were $226 million compared with a $126-million recovery of credit losses a year ago.

On an adjusted basis, BMO says it earned $3.04 per diluted share, down from an adjusted profit of $3.33 per diluted share a year earlier.

Analysts on average had expected a profit of $3.07 per share for the quarter, according to estimates compiled by financial markets data firm Refinitiv.

This report by The Canadian Press was first published Dec. 1, 2022.

CIBC Reports Q4 Down From Year Ago, Raises Quarterly Dividend

TORONTO — CIBC reported its fourth-quarter profit fell to $1.19 billion compared with $1.44 billion in the same quarter last year as its provisions for credit losses climbed higher.

The bank also raised its quarterly dividend to shareholders by two cents to 85 cents per share.

The increased payment to shareholders came as CIBC said it earned $1.26 per diluted share for the quarter ended Oct. 31, down from $1.54 per diluted share in the same quarter last year. Revenue totalled $5.39 billion for the quarter compared with $5.06 billion a year ago.

Provisions for credit losses for the three-month period totalled $436 million, up from $78 million in the same quarter last year.

On an adjusted basis, CIBC said it earned $1.39 per diluted share in its fourth quarter, down from an adjusted profit of $1.68 per diluted share a year ago.

Analysts on average had expected to the bank to earn $1.72 per diluted share, according to estimates compiled by financial markets data firm Refinitiv.

This report by The Canadian Press was first published Dec. 1, 2022.

Bank Of Nova Scotia: Fiscal Q4 Earnings Snapshot

TORONTO (AP) _ Bank of Nova Scotia (BNS) on Tuesday reported fiscal fourth-quarter earnings of $1.54 billion.

The Toronto-based bank said it had earnings of $1.22 per share. Earnings, adjusted for non-recurring costs, came to $1.55 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.49 per share.

The bank posted revenue of $10.61 billion in the period. Its revenue net of interest expense was $5.73 billion, which fell short of Street forecasts.

For the year, the company reported profit of $7.7 billion, or $6.23 per share. Revenue was reported as $24.4 billion.

Bank of Nova Scotia shares have dropped 26% since the beginning of the year. The stock has declined 18% in the last 12 months

India may be set to become third largest economy by 2030, overtaking Japan and Germany

• S&P’s forecast is based on the projection that India’s annual nominal gross domestic product growth will average 6.3% through 2030.
• Similarly, Morgan Stanley estimates that India’s GDP is likely to more than double from current levels by 2031.
• S&P’s projection hinges on the continuation of India’s trade and financial liberalization, labor market reform, as well as investment in India’s infrastructure and human capital.

https://www.cnbc.com/2022/12/01/india-to-leapfrog-to-third-largest-economy-by-2030.html