FONT-SIZE Plus   Neg

National Bank Of Canada Q2 Net Profit Declines

National Bank of Canada (NA.TO), 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
International Business Machines Corp. (IBM) Monday predicted that Cyber Monday online sales would grow by more than 18 percent compared to 2014. Driven by a surge in mobile shopping, consumers indicate that Samsung, Sony and LG TVs as well as Apple Watch and Beats by Dre are at the top of their shopping... As the Black Friday din settles down, it is time to look back at how various players and products fared and Adobe has offered some insight into just that. Mobiles and smartphones sold like hot cakes, according to online shopping data released by Adobe. After nearly a 2-year hiatus following its announcement that it is testing unmanned drones, Amazon finally offered a glimpse into the prototype and its functioning. It remains to be see if the company can work around regulatory hurdles to make it a reality.
comments powered by Disqus
Follow RTT