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Laurentian Bank of Canada hikes dividend

The board of Laurentian Bank of Canada increased the dividend on the company's common shares to 63 Canadian cents per share, one cent higher than the previous dividend.

The latest dividend will be payable on Feb. 1, 2018, to holders on record on Jan. 2, 2018.

The Montreal-based company reported fiscal-fourth quarter net income available to common shareholders of C$54.4 million, or C$1.42 per share, up from its net income of C$14.1 million, or 45 cents per share, in the year-ago period.

The S&P Capital IQ consensus normalized EPS estimate was C$1.55.