National Bank raises dividend, Q4 profit up 20 per cent from year earlier

MONTREAL – National Bank is raising its quarterly dividend following a fourth quarter that saw it’s net income rise 20 per cent over the same time last year.

The Montreal-based bank’s profit amounted to $351 million or $1.97 per share.

For the full year ended Oct. 31, National bank had $1.6 billion of net income — up 26 per cent from 2011.

The full-year profit amounted to $9.32 per share of diluted earnings, up 35 per cent from the same time last year.

National Bank’s quarterly dividend on common shares by five per cent to 83 cents per common share, starting with the January payout to shareholders.