CIBC Underdog No More as Performance Bests Canadian Bank Peers
- CEO Victor Dodig says test will be 5-year, 10-year results
- Steady dividend increases help push total returns to top
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Victor Dodig’s overhaul of Canadian Imperial Bank of Commerce is paying off.
Total returns and profitability at the former underdog of Canadian banking are top among its peers and its dividend yield is the fattest of the nation’s five largest lenders. With the bank’s domestic operations sharpened, the chief executive officer is on the hunt for a U.S. acquisition that could help diversify its operations.