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Laurentian Bank of Canada hikes dividend

The board of Laurentian Bank of Canada raised the dividend on its common shares to 64 Canadian cents per share, a cent higher than the previous payout.

The dividend will be payable Aug. 1 to holders of record as of July 2.

The Montreal-based company reported fiscal second-quarter net income of $59.2 million, or $1.34 per share, compared with $44.6 million, or $1.19 per share, in the year-ago quarter.