Elevate your local knowledge
Sign up for the iNFOnews newsletter today!
Quebec’s Laurentian Bank reports lower Q2 profit while raising its dividend
MONTREAL – Laurentian Bank of Canada (TSX:LB) is raising its dividend while announcing a lower second-quarter profit of $31 million.
The Quebec-based bank says it’s raising its quarterly payment to shareholders by a penny to 52 cents per share.
Laurentian earned 99 cents diluted per share in its latest quarter, compared with a profit of $33.8 million or $1.05 per share in the same quarter a year ago.
The bank says its adjusted profit, excluding items, was $39.4 million, or $1.29 diluted per share, compared with $39.2 million or $1.24 diluted per share for the same period in 2013.
Analysts polled by Thomson Reuters had expected an adjusted profit of $1.24 per share for the quarter.
The bank says its return on equity was 9.2 per cent for the quarter, compared with 10.4 per cent a year ago.
News from © The Canadian Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community?
You must be logged in to post a comment.
