Montreal-based Laurentian Bank of Canada's board declared a quarterly dividend of 66 Canadian cents per common share, up 1 cent from the previous issuance.

The dividend will be paid Aug. 1 to shareholders of record as of July 2.

The company reported second-quarter adjusted net income of C$48.7 million, or C$1.08 per share, down from C$64.6 million, or C$1.47 per share, in the prior-year period.

The S&P Global Market Intelligence consensus normalized EPS estimate was C$1.07.