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Winnipeg Free Press - PRINT EDITION
National Bank increases dividend
MONTREAL -- National Bank of Canada has rewarded its shareholders with a dividend increase and posted a $553-million net profit, which was boosted by the recent sale of its investment management business.
The Montreal-based bank said Thursday its quarterly dividend will rise by four cents to 79 cents per share, a five per cent increase.
National Bank (TSX:NA) said its second-quarter net income was up 69 per cent from $327 million in the same quarter last year. About $212 million of that profit came from a gain on the bank's sale of Natcan Investment Management in April.
The bank's net income before adjustments amounted to $3.22 per diluted share, or $1.95 per share after adjustments.
-- The Canadian Press
Republished from the Winnipeg Free Press print edition June 1, 2012 B5
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