City National Corp. (CYN) posted third quarter net income of $8.0 million, compared to $16.6 million in the third quarter last year. After the dividend paid on preferred stock under the United States Treasury Department's Capital Purchase Program, third-quarter net income available to common shareholders was $2.5 million, or $0.05 per share, compared to $16.6 million or $0.34 per share in the year-ago period.
On average, 21 analysts polled by Thomson Reuters expected the company to report earnings of $0.08 per share. Analysts' estimates typically exclude special items.
Revenue for the third quarter of 2009 was $230.2 million, compared to $203 million in the preceding year period. Twelve Wall Street analysts expected revenues of $224.92 million.
Further, the company said it continues to expect to remain modestly profitable in 2009.
In addition, the company's Board of Directors declared a 2009 quarterly common stock cash dividend of $0.10 per share, payable on November 18, 2009 to stockholders of record on November 4, 2009.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.