The Montreal-based financial institution mentioned Wednesday it should 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 keeping with knowledge supplied by LSEG Knowledge & Analytics.
“By means of disciplined execution, robust natural development and resilient credit score efficiency, we met all of our medium-term monetary goals in 2024,” Nationwide Financial institution chief government Laurent Ferreira mentioned in a press release. “Looking forward to 2025 in what is going to stay a fancy atmosphere, we’ll proceed to leverage our diversified enterprise mannequin and disciplined method to credit score, capital and prices as we pursue our development path.”
Nationwide Financial institution mentioned its private and industrial 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.
MoneySense’s ETF Screener Instrument
Royal Financial institution of Canada reviews $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 mentioned Wednesday it should now pay a quarterly dividend of $1.48 per share, up from $1.42 per share. The elevated fee 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.
