logo
Share SHARE
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
Everyone knows that the Federal Reserve will raise interest rates next Wednesday at the conclusion of its two-day policy meeting. After all, Fed speakers have been jawboning a rate hike over the past few weeks. With the markets reacting with eerie calm to Donald Trump's win, policy makers have no... GOP strategist Karl Rove has criticized U.S. President-elect Donald Trump's comments on aircraft maker Boeing Co.'s contract for a new Air Force One plane, saying they were inaccurate and de-stabled the stock of a major company. Air Force One is the official air plane for the U.S. President. Elon Musk's space transport company SpaceX has lost a satellite launch order from one of its customers due to the delay in its rocket launch schedule after one of its rockets exploded in September.
comments powered by Disqus
Follow RTT