The Montreal-based financial institution stated Wednesday it’ll now pay a quarterly dividend of $1.14 per share, up from $1.10 per share. And Nationwide Financial institution says it earned $955 million or $2.66 per diluted share for the quarter ended Oct. 31, up from a revenue of $751 million or $2.09 per diluted share in the identical quarter final yr.
Income for the quarter totalled $2.94 billion, up from $2.56 billion a yr earlier, whereas the financial institution’s provision for credit score losses amounted to $162 million, up from $115 million a yr in the past.
On an adjusted foundation, Nationwide Financial institution says it earned $2.58 per diluted share in its newest quarter, up from an adjusted revenue of $2.39 per diluted share in the identical quarter final yr. The common analyst estimate had been for an adjusted revenue of $2.57 per share, in line with information supplied by LSEG Information & Analytics.
“By disciplined execution, sturdy natural progress and resilient credit score efficiency, we met all of our medium-term monetary goals in 2024,” Nationwide Financial institution chief govt Laurent Ferreira stated in an announcement. “Waiting for 2025 in what’s going to stay a posh setting, we’ll proceed to leverage our diversified enterprise mannequin and disciplined method to credit score, capital and prices as we pursue our progress path.”
Nationwide Financial institution stated its private and business banking enterprise earned $327 million, up from $271 million in the identical quarter final yr, whereas its wealth administration enterprise earned $219 million, up from $155 million a yr in the past. The financial institution’s monetary markets enterprise earned $306 million, up from $284 million a yr earlier.
Nationwide Financial institution’s U.S. specialty finance and worldwide enterprise, which primarily includes its Credigy Ltd. and Superior Financial institution of Asia Ltd. subsidiaries, earned $157 million, up from $145 million in the identical quarter final yr. The financial institution’s “different” phase reported a lack of $54 million in its newest quarter in contrast with a lack of $104 million a yr earlier.
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Royal Financial institution of Canada studies $4.22-billion This fall revenue, raises quarterly dividend
Royal Financial institution of Canada (RY/TSX) raised its dividend because it reported a fourth-quarter revenue of $4.22 billion, up from $3.94 billion in the identical quarter final yr. The financial institution stated Wednesday it’ll now pay a quarterly dividend of $1.48 per share, up from $1.42 per share. The elevated cost to shareholders got here as RBC says it earned $2.91 per diluted share for the quarter ended Oct. 31, up from a revenue of $2.76 per diluted share in the identical quarter final yr.
