National Bank of Canada ups dividend as profit jumps

Thu Dec 6, 2012 7:57am EST
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(Reuters) - National Bank of Canada's (NA.TO: Quote) fourth-quarter profit rose 20 percent, driven by a sharp jump in markets-related revenue, and the bank raised its dividend by 5 percent.

National, Canada's sixth-largest bank, said on Thursday it earned C$351 million ($353.49 million), or C$1.97 a share, in the fiscal fourth quarter ended October 31. That was up from C$292 million, or C$1.62 a share, in the same quarter a year ago.

Excluding items, the bank earned C$1.93 a share, matching expectations of analysts, according to Thomson Reuters I/B/E/S.

The bank raised its dividend to 83 Canadian cents per share from 79 Canadian cents per share.

(Reporting By Cameron French; Editing by Gerald E. McCormick)

A sign is pictured outside a National Bank of Canada branch in Ottawa August 27, 2009. REUTERS/Chris Wattie