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National Bank of Canada logs higher profit YOY in fiscal Q2

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National Bank of Canada logs higher profit YOY in fiscal Q2

National Bank of Canada logged fiscal second-quarter net income attributable to shareholders of C$539 million, or C$1.51 per share, compared with C$522 million, or C$1.44 per share, in the prior-year quarter.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter ended April 30 was C$1.52.

Three of the company's segments saw their respective net incomes rise in the quarter. Net income for the company's personal and commercial segment increased 9% to C$234 million, net income for the wealth management segment rose 5% year over year to C$118 million, and net income for the U.S. specialty finance and international segment climbed 14% to C$72 million. Meanwhile, the company's financial markets net income was down 16% to C$160 million.

Total revenues clocked in at C$1.77 billion, a slight increase from C$1.75 billion a year ago.

On May 29, the company's board declared a dividend of 68 Canadian cents per common share, up 3 cents from the previous dividend. The dividend will be paid Aug. 1 to shareholders of record June 25.