National Bank reports Q4 profit down from year ago, raises quarterly dividend
By The Canadian Press on November 30, 2022.
MONTREAL – National Bank of Canada raised its dividend as it reported its fourth-quarter profit fell four per cent compared with a year ago. The Montreal-based bank says it will up its quarterly payment to shareholders by five cents to 97 cents per share. The increased payment came as National Bank says it earned $738 million or $2.08 per diluted share for the quarter ended Oct. 31, down from $769 million or $2.17 per diluted share in the same quarter last year. Revenue totalled $2.33 billion, up from $2.21 billion a year earlier. Provisions for credit losses totalled $87 million in the fourth quarter compared with a recovery of $41 million a year ago. National Bank says it earned $2.08 per diluted share on an adjusted basis in its latest quarter, down from an adjusted profit of $2.19 per diluted share in the same quarter last year. Analysts on average had expected a profit of $2.24 per share, according to estimates compiled by financial markets data firm Refinitiv. This report by The Canadian Press was first published Nov. 30, 2022. Companies in this story: (TSX:NA) 9-8
