Canadian Western Bank (CWB.TO) posted second-quarter net income available to common shareholders of C$42.99 million, or C$0.54 per share, compared to C$39.67 million, or C$0.52 per share in the prior year quarter.
Adjusted cash earnings per share reached C$0.55 during the latest quarter, same as last year. On average, ten analysts polled by Thomson Reuters expected earnings per share of C$0.56 for the quarter. Analysts' estimates typically exclude one-time items.
Quarterly total revenues, on a taxable equivalent basis, grew 7% to C$136.97 million, from C$127.85 million in the comparable quarter last year. Total revenues for the quarter were C$134.97 million, up 8% from C$125.40 million in the year-ago period. Analysts estimated revenues of C$137.92 million for the quarter.
Further, CWB's Board of Directors declared a cash dividend of C$0.18 per common share, up 6% or C$0.01 per share over the previous quarter. This dividend will be payable on June 27, 2013 to shareholders of record on June 20, 2013.
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