National Bank reports fourth-quarter profit up from year ago, raises dividend

MONTREAL - National Bank of Canada raised its dividend as it reported fourth-quarter net income grew to $525 million.

The bank (TSX:NA) increased its quarterly payment to its common shareholders by two cents to 60 cents per share.

The move came as National Bank says its net income amounted to $1.39 per diluted share for the quarter ended Oct. 31, up from $307 million or 78 cents per share a year ago.

Revenue totalled $1.70 billion, up from $1.57 billion.

Excluding specified items, the bank say it earned $531 million or $1.40 per diluted share in the quarter, up from $463 million or $1.24 per share a year ago.

Analysts had expected a profit of $1.38 per share, according to Thomson Reuters.

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