Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Laurentian Bank Profit Tops Estimates as Bank Boosts Dividend

Dec. 7 (Bloomberg) -- Laurentian Bank of Canada said profit before one-time costs climbed 5.8 percent in the fourth quarter as the country’s seventh-largest bank increased its dividend for the second time in a year.

Excluding costs related to an acquisition and terminating a distribution agreement, profit for the period ended Oct. 31 climbed to C$34.4 million ($34 million), or C$1.31 a share, from C$32.5 million, or C$1.24, a year earlier, the Montreal-based bank said today in a statement. Net income fell 12 percent to C$28.6 million, or C$1.06 a share.

Laurentian Bank boosted its quarterly dividend 7.1 percent to 45 cents a share, matching an estimate made by the Bloomberg Dividend Forecast.

The bank was expected to earn C$1.21 a share before one-time items, based on the average estimate of eight analysts surveyed by Bloomberg.

(Laurentian Bank will hold a conference call at 2 p.m. To listen, dial +1-514-861-2255 or +1-866-696-5910.)

To contact the reporter on this story: Sean B. Pasternak in Toronto at spasternak@bloomberg.net.

To contact the editors responsible for this story: David Scanlan at dscanlan@bloomberg.net; David Scheer at dscheer@bloomberg.net.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.