logo
Share SHARE
FONT-SIZE Plus   Neg

National Bank Of Canada Q2 Net Profit Declines

National Bank of Canada (NA.TO: Quote), Friday reported net income of C$434 million or C$2.49 per share for the second quarter, compared with C$553 million or C$3.22 per share last year. Last year's profit included a C$198 million net gain realized on the Natcan transaction.

Excluding specified items, the company reported net income of C$369 million or C$2.08 per share, compared with C$347 million or C$1.95 per share during the same quarter last year.

Revenue for the three-month period was C$1.38 billion, a decrease from prior year's C$1.49 billion. Adjusted revenues for the quarter were C$1.25 billion compared with C$1.22 billion during the corresponding quarter last year.

The company further announced an increase in dividend on its common shares from C$0.83 to C$0.87 for the quarter ending July 31. This dividend will be payable on August 1 to shareholders of record on June 20.

In a separate statement, the firm announced that its board has authorized a normal course issuer bid to purchase for cancellation of up to 2 percent of its issued and outstanding common shares, representing approximately 3,246,676 common shares. The company said that the normal course issuer bid will begin on or about June 20 and will end at the latest on or about June 19.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
BlackRock (BLK) said its iShares division has launched the iShares Short Maturity Municipal Bond ETF (MEAR). The move by iShares, the world's largest manager of exchange traded funds, is part of efforts to boost its lineup of fixed income ETFs. iShares Short Maturity Municipal Bond ETF is actively... The drought crisis in California will not abate any time soon despite the onset of a somewhat weak El Nino, endangering crops and putting farmers and others to hardship. German auto giant BMW has refuted reports it is in discussion with tech giant Apple Inc. (AAPL) related to the making of an electric car. BMW has clarified that its discussion with Apple was not related to building an electric car but were "regular talks," according to a report from Reuters. On...
comments powered by Disqus
Follow RTT